April 13, 2010
The sub-pennying/flash trading will at some time in the future be the "big scandal." It is creating an unfair market and driving out the liquidity providers. This is front running. We need a level playing field. As a trader, I no longer provide liquidity because this is an unfair market.
At some point there will be a market turndown that may turn into a "crash" when the liquidity providers are gone and provide no support. When average investor starts screaming for blood there will be articles written condemning the SEC not doing anything about it.