Interesting article on an exchange in the US system.
A Canadian has created an exchange that slows down the order flow, and by becoming an accredited exchange in the US, orders have to flow to his exchange if he offers the best price.
Slows down order flow, at his exchange only, by 350 milliseconds, and that's enough for the Seppos to tar him as "un-american".
NEW ANTI HFT EXCHANGE
MFx
