Legal, yes.
Where it is an issue is that they say that all participants are welcome to set up an arrangement that allows them to trade this way i.e. HFT. This, according to them, means that the system is a level playing field. Not so really.
Does anyone have the time, resources or otherwise to set up this infrastructure? No.
It is a disadvantage bestowed upon the retail investor and they wonder why volumes are down with all we have been throught in the last five years.
Doh.
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