I have added the Themis Trading Blog to the blogRoll.
Themis Trading bills itself as:
a leading independent, no conflict agency brokerage firm specializing in trading Listed and OTC equities for Institutions. We specialize in helping our clients navigate the fragmented electronic universe, find liquidity and minimize market impact. By design the Themis business model has no conflicts of interest with our clientele, and we do not make markets or provide investment banking services.
They have a lot of material on High Frequency Trading in the blog and elsewhere on their website. Naturally, it’s in their interest to portray HFT as a Bad Thing that has caused the trading process to be so complicated that poor innocent portfolio managers need a little help to keep ahead of the game … but that’s no bad thing. It certainly appears that they know their stuff … although I would need to do more digging before venturing an opinion on their actual skills and the value of their services, of course.