September 16, 2010
I have one suggestion ...
Promote deep order books on US Equity Markets. Exchanges for years have opposed the idea of a Consolidated Limit Order Book (CLOB), which would essentially dump all bids and offers into a single "pool." It is time to rexamine this idea. There is usually plenty of liquidity, but crazy order handling rules sometimes allows absurd trades to print, far away from the best bid and offer.
The best bid and offer should always be available, regardless of what exchange you are on. If the industry is opposed to a CLOB (they are), there should at least be access to a deeper level of liquidity.