Instruct: Identify the main and secondary category of Arxiv papers based on the titles and abstracts
Query: Simulating the Synchronizing Behavior of High-Frequency Trading in
  Multiple Markets   Nearly one-half of all trades in financial markets are executed by
high-speed, autonomous computer programs -- a type of trading often called
high-frequency trading (HFT). Although evidence suggests that HFT increases the
efficiency of markets, it is unclear how or why it produces this outcome. Here
we create a simple model to study the impact of HFT on investors who trade
similar securities in different markets. We show that HFT can improve liquidity
by allowing more transactions to take place without adversely affecting pricing
or volatility. In the model, HFT synchronizes the prices of the securities,
which allows buyers and sellers to find one another across markets and
increases the likelihood of competitive orders being filled.

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The categories of this paper are: chem-ph
25
The categories of this paper are: patt-sol
11
The categories of this paper are: hep-lat
28
The categories of this paper are: alg-geom
13
The categories of this paper are: quant-ph
22
The categories of this paper are: chao-dyn
29
The categories of this paper are: funct-an
35
The categories of this paper are: mtrl-th
12
The categories of this paper are: nucl-th
2
The categories of this paper are: math
4
The categories of this paper are: cond-mat
18
The categories of this paper are: econ
20
The categories of this paper are: acc-phys
8
The categories of this paper are: hep-ex
23
The categories of this paper are: solv-int
7
The categories of this paper are: hep-th