[pdonis]

> HFT enable both of those low costs

I see how HFT can narrow the bid-ask spread, but how does HFT enable an electronic market? Isn't it the other way around?

[kasey_junk]

HFT doesn't enable electronic markets, it drives down the cost of them. The reason for this is that HFT participants are high volume users of electronic market infrastructure and have a vested interest in making that infrastructure cheap.

[pdonis]

Ah, ok, that makes sense.