Quoting Henry Baker <hbaker1@pipeline.com>: <clippage>
Stock Traders Find Speed Pays, in Milliseconds by Charles Duhigg -- Friday, July 24, 2009 -- The New York Times It is the hot new thing on Wall Street, a way for a handful of traders to master the stock market, peek at investors' orders and, critics say, even subtly manipulate share prices. <snip> "You want to encourage innovation, and you want to reward companies that have invested in technology and ideas that make the markets more efficient," said Andrew M. Brooks, head of United States equity trading at T. Rowe Price, a mutual fund and investment company that often competes with and uses high-frequency techniques. "But we're moving toward a two-tiered marketplace of the high-frequency arbitrage guys, and everyone else. People want to know they have a legitimate shot at getting a fair deal. Otherwise, the markets lose their integrity."
I'd say this particular horse left the barn a long time ago. Rich