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To: John Koligman who wrote (32887)9/7/2017 6:42:34 PM
From: TimF  Respond to of 362610
 
The major benefit of HFT is it has improved market liquidity and removed bid-ask spreads that previously would have been too small. This was tested by adding fees on HFT, and as a result, bid-ask spreads increased. One study assessed how Canadian bid-ask spreads changed when the government introduced fees on HFT, and it was found that bid-ask spreads increased by 9%.

investopedia.com

As I noted before, one study of trades in one country. Hardly definitive for the entire issue. Still enough to think their might be a benefit broader than just to the traders themselves, or at least not any serious net cost/loss overall.