To begin with one of the things about high frrequency trading is that not many understand what it actually means. It is a kind of trading that is "not relationship-based", but it has become as umbrella term used as a pejorative. However, I think the HFT community has become somewhat remiss in defending itself and has not tried to state the case for HFT. The phenomenon has been around a long time in different ways. As for whether it is good for business, I do not think the answer is clear.