As a securities researcher, from my point of view, it will aggravate the macro situation. In 2009, the Dow Jones index plunged 998 points in one minute, which was later found to be the result of computerized quantitative trading by Knight Company.

2. The impact of "high-frequency trading" on the market has long been a hot topic among investment banks. According to the report of the Federal Reserve Bank of Chicago, about 70% of the total trading volume of the US stock market is completed through "high-frequency trading", while the number of institutions that conduct "high-frequency trading" is only 2%. The Federal Reserve Bank of Chicago believes that in this context, although "high-frequency trading" is also good for the market and can increase the liquidity of the stock market, once the procedure is wrong or human negligence, it may have a disastrous impact on the market trend. For example, most of the current problems in "high-frequency trading" are due to investors giving wrong instructions to machines. Although the impact of this mistake is still limited, it has caused severe market fluctuations many times.

3. At present, the development of "high-frequency trading" in China is still in its infancy, and this kind of trading can not reach the level of manipulating the market after the stock index futures come out. In the field of commodity futures, at present, it is more of an "artificial" high-frequency transaction, which realizes rapid entry and exit through the trader's "sense of disk". As a result, a group of "futures speculators" came into being. They were entrenched in Shanghai, Zhengzhou, Dalian and other places close to the futures exchange, and strengthened their advantages in trading speed with the help of the advantages of shortened space distance and fast communication speed.

4. The impact of quantitative trading and high-frequency trading on the market is still unclear, but what is certain is that it will definitely have a great impact on retail investors. Thanks for adoption