The Financial Services Authority has launched a wide-ranging review of UK equity markets that will cover the controversial investing strategy of high-frequency trading and the use of alternative trading platforms.

The move echoes that of US watchdog, the SEC, as questions grow about how the rise of sophisticated electronic trading in recent years may be affecting investors.

When it comes to high speed trading who can forget this trader who managed to make $10m of electronic trades on average every 7.5 seconds for an hour and a half into the early evening after a boozy lunch…