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Trading without judgement: An interview with Adair Turner

“The likelihood that high-frequency trading is socially valuable is nil,” says the financial policy expert

By Jay Elwes   May 2014

“Nobody can describe why getting the process of… trading down from the minute-by-minute level to the nanosecond level can possibly deliver value.”

Adair Turner, the former Chairman of the Financial Services Authority, the body that up until 2013 was responsible for regulating the City, has described the controversial financial activity of high-frequency trading as having “no positive value.” Turner told Prospect that “the likelihood that high-frequency trading is socially valuable is nil.”

These comments come after the recent publication of Flash Boys, by Michael Lewis, which describes the…

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