September 19, 2009
Frankly I can't believe flash orders weren't done away with long ago. They're contrary to the direction market regulation has taken in recent years. Any process that hides information from and/or deprives fair transaction opportunity to ALL investors should be prohibited. The whole point of Regulation NMS is to make it as fair for the public as for insiders and institutions. Flash orders smack of the elitism that was rife in the markets for decades, to the detriment of small investors. Market makers should have to play by the same rules as the rest of us. Thanks.