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The Cost of High Frequency Trading, People and Not Math Equations Should Determine the Price of Food

A press release from Protect Ag Futures and Save the Floor, Inc.:

 

The Committee to Retain Integrity in Grains Pricing

High Frequency Traders Manipulating Food Prices? The Issue Is Not Settled.

The CME Group is imposing a procedural change in June of 2012 that will drastically and negatively affect food pricing.  If this happens, it will lead to the very swift end for open-outcry in food futures and mark the beginning of a new chapter in market manipulation by computer programs.  A movement, Protect Ag Futures and Save the Floor, Inc, to stop this change has developed on the trading floors consisting of futures commission merchants, traders and brokers in the grain and livestock futures pits, and is it spreading to customers outside the exchanges.

Read the full release here

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