December 17, 2015
I support approval of IEX. The reason being it is too hard to compete with high frequency machines now, applying Moore's law to the equation, markets will become a battle of computer technologies expenditure rather then economics and fundamentals.
The question I ask my self is this. Why do we give permission to use hardware/software to bankrupt a publicly listed company using misleading trickery such a high frequency order cancellation.
Although I am not an American citizen, as a consumer of fine American products I believe I am affected. I would be very disappointed to learn my favourite company's product is no longer available because it was written off by another high frequency trading firm which provides nothing tangible. What are said companies doing for the globe. What product are they manufacturing or what services are they providing? The answer is demand for bigger faster computers and software, besides that, they have the potential to kill off great companies. The risk of allowing this to continue far outweighs the benefit of further profits for tech companies.
Please reinstate an equal playing field for humans, who are disadvantage by ethics and good morals.
Thank you for taking the time to hear my personal opinions.