December 11, 2015
I might be miss quoting one of our former presidents but "We need IEX. I support the IEX" - John F. Kennedy
Above statement is a joke just like the "HFT"er bots have gone unchecked for too long and dispositioning/disenfranchizing the empirical evidence on investment market involvement.
The level of exploitation is ruining credibility in securities being traded in a "fair, equal and balanced" way can be summerized quite simply. (After writing this, I've suddenly realized something) The term HFT is misleading. It is a computer program or bot which trades for you incredibly fast. If we stop right there, who among us is benefitting from this and is it benefitting the exchange/community/society/world? Does this bot care about seeing the security gain value? NO Nothing in HFT is legal nor is it fiduciary. I for one believe if you have fiduciary responsibilities to your client and are using a bot, you're gaming the system and this is why "we need IEX".
I would like to start the body of my comment about a fact about transparency in the 21-century. The internet is evolving beyond most people's comprehension, similar to our estimations of the number of stars in the galaxy. Within the past 10 years, digital currency has changed the credibility game in finances. I believe this is a trend by society for more modern day exchange systems. If we truly want to see the real 21st-century exchange, we need to see it properly ran and no "trade day windows" (time when volatility changes a security) being in the nanoseconds or within the first 15 mins-120 mins of the opening bell. This data-based analysist by many whom feel the same way are confirmable and veritifable.
Thank you. Let's celebrate this open-form of community, investment and discussion to more eyes n ears.