[seanos]

"-75% of trading is now automated, it is just computers trading with each other.

I hope someone will correct me if I'm wrong but I have never figured out if this 75% includes algo trading. If it does include algo trading (my guess is that it does), then I'm surprised it is not 100%. That is like saying 95% of TV channels are controlled by remote-control devices."

From the Foresight project homepage (http://www.bis.gov.uk/foresight/our-work/projects/current-pr...): "For example, today, over one third of United Kingdom equity trading volume is generated through high frequency automated computer trading while in the US this figure is closer to three-quarters."

[paperwork]

Thanks for the pointer! As soon as I have some time, I'll dig into this more.