[BigDog]

Originally Posted by BTM

No not cheating, but flashing was clearly an issue of information asymmetry...a cardinal economic sin. From an econ point of view I would support competitive HF trading as it points the market toward the more accurate current price faster than any other strategy does

again, from an academic standpoint, yes one can argue its information asymmetry, disrupts efficient markets etc etc....

from a trading standpoint, i argue that this information was also available to those who were willing to pay the exchange for it.... was simply a way to gain edge that any trader would take....