Quite frankly I don't understand it, let alone explain it. But something about hidden orders, small trades to get nibbles, and being able to see incoming orders before anybody else.
The book FlashBoys by Michael Lewis, an ex Wall St trader, describes the amazing things the high frequency traders can do - especially if they have their computers near or at the exchange.
Why would anyone place dozens of orders for $11 every 5 minutes? How is that better than placing a single order for $200? Or $2000? Why these trivial amounts? It is too sophisticated and complex for something that would yield a tiny profit.
Ann: HadrianX Factory Acceptance Test completed for CRH Ventures, page-95
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