A few days after the May 6th Flash Crash last year we received a phone call from a large HFT firm. They took issue with a few things that we had written and wanted to set the record straight. The HFT also wanted us to get on board with a market reform that they thought would help prevent another flash crash – limit up/limit down circuit breakers. Of course, being the skeptical types, we immediately became suspicious about the limit up/limit down breakers. Since that phone call, over a year
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