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I thought HFTers only got involved in between two parties when they knew they could make a profit.

You thought wrong. While there are a variety of things that HFT firms do, most of it is market making.

Those market makers are known, formal and regulated. HFTs are none of those.

Well, I guess semi-regulated.

The big HFT firms are, in fact, well known.

They're also regulated in various ways.

In fact all of the nyse designated market makers are HFT firms.