The chairman emeritus of CME Group has made a passionate defence of high frequency trading.
In a comment article for London's Financial Times, Leo Melamed lobbied the Commodity Futures Trading Commission with a direct call not to stifle innovation.
Melamed directly challenged CFTC commissioner Bart Chilton who in July last year claimed high frequency traders – who he dubbed as cheetahs - were responsible for the flash Crash in May 2010 and called for their activities to be curbed.
Melamed claimed the 'cheetahs'...