High-Frequency Trading:Deception and Consequences

This commentary is based on the work of Cooper,Davis,and Van Vliet(2016)and the commentary focuses on what problem high-frequency trading poses.It lists key literature on high-frequency trading that is missing and points out that the poker analogy to defend deception in financial markets is weak and misleading.The article elaborates on the negative impact created by spoofing and quote stuffing,the two typical deceptive practices used by high-frequency traders.The recent regulations regarding high-frequency trading,in response to the“Flash Crash”of 2010,are preventive,computerized and more effective.They reflect ethical requirements to maintain fair and stable financial markets.

我在美国读高中

中外基础教育到底孰强孰弱是一个争论不休、但很难有答案的话题。在这组文章中,我们选择了到国外访学的学者,从他们的眼中看国外的教育,看中外之间教育的不同;我们约请了曾在20世纪90年代初以“夏令营中的较量”一文引起国人警觉和争论,并长期研究关注中日教育的孙云晓先生,展示他眼中的日本教育;我们还约请了正在读高中的孩子,请他们各自介绍一下自己的高中及高中教育。我们希望从一个直观的、感性的角度展示中外在基础教育方面的不同点。我们以为中外基础教育很难说谁强谁弱,但它们的确还是有很大的不同。这不同的展示,有助于我们认真思考我们的基础教育,有助于我们建立一个更利于人才培养和教育发展的基础教育。