January 9, 2013
Copyrighted material redacted. Author cites:
THIS IS OBNOXIOUS. IT SHOULDN'T BE ALLOWED. simply cancelling trades protects HFT but not the investors and certainly doesn't solve the problem.
apparently the HFT is more powerful than regulators. maybe they are the government.
the regulators cannot protect investors. the regulators appear to protect the fraud, the gaming that HFT does. and i can't figure out why the regulators don't talk to the nanex people. write to eric of nanex email@example.com
is the SEC just waiting for one person to have all the $? that would make the rest of us slaves, you know. and it would change the form of government we are supposed to have.
we need a wholesale change in the capital markets and one will happen whether regulators want the change or not.
i would remind the regulators that the HFT have no use for regulation - they disregard it. the rules are for the retail investor.
a broker allowed this. the exchange cancelled the trades to protect the offending broker's profit/loss.