About six weeks ago, we have we had written about an exchange order type that tips the scales of fairness in favor of HFTs, who get to “add liquidity” and collect rebates with orders that won’t get executed if the contra-side is bigger in size than they are. We remarked about how insane it is for exchanges to design order types that are intended to be traded through. We remarked how it was insane to design an order type that allows one class of speedy hyper trader to
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