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Small number of Nexen trades cancelled from Friday
Small number of Nexen trades cancelled from Friday
(AKHTAR SOOMRO/REUTERS)

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GETCO offers a glimpse at how high frequency traders are suffering

The slowdown in stock markets is hammering profits at high frequency trading shops, if a filing from industry giant GETCO LLC is any indication.

GETCO wants to buy Knight Capital, and in the merger filing, the normally secretive company laid bare its finances and gave a peek at its strategy.

The picture is one of a company that is struggling in current markets to make money in what had been its cash cow business, high frequency trading, and is now spending money to build out other strategies to compensate.