michael-----algo programs are definitely not old,not conceptually dated,they pay the program writers obscene amounts to distort markets,i agree there is some necessity to maintain market liquidity however that is not the only modus operandi which has been outrageously prevalent and growing upto the gfc,the future with the construction of new data exchanges worldwide and monitoring of market participants combined with legislative change,such as barack obama has pushed through in the usa,will hopefully see a revival of confidence in free markets----not to mention the asx ,asic have the main overseers role now combined with some subtle legal changes we are already witness to prosecution of corrupt individuals,not a good way to go as asic will consume 15-20 years of your life in legal action action regarding alleged breaches and that is without making a finding let alone being guilty then its endless
