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Cover Story: Defending the Turf

Sellside Moves to Protect Buyside From HFT Onslaught

Traders Magazine Online News, May 12, 2011

Peter Chapman

Talk about the power of television. On Monday morning, Oct. 11, 2010, the phones in Credit Suisse's Advanced Execution Services department were ringing more than usual. On the other end were anxious customers asking the big broker what it was doing to protect their orders from predatory black-box traders. They had all watched "60 Minutes" the night before, when the popular television program explored the world of computerized trading and the role of high-frequency traders.

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