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Speed matters for the processing of market relevant information and for stock price discovery. We measure and compare the impact of different kinds of information events on high-frequency trading (HFT) and non-HFT (NHFT). Information events are categorized into hard quantitative information shocks and soft qualitative shocks. We find that HFT reaction to hard information is higher and faster than for soft information and they cash in secure profits after a short time period. NHFT reaction isdoi:10.2139/ssrn.2136687 fatcat:mz2hgde6i5e4znq3ftcw63hgoi