>Its exchange competitors, which include the New York Stock Exchange, Nasdaq and BATS, cater to the interests of high-frequency traders, which typically provide

>Its exchange competitors, which include the New York Stock Exchange, Nasdaq and BATS, cater to the interests of high-frequency traders, which typically provide more than 50 percent of all trading volume. This is true for IEX -- the top volume participants there are all HFT firms. Also, I don't see how IEX's claim of improving price discovery meshes with their 350us delay. Are they not locking the NBBO on basically every single price flip because they are delaying updating their quotes? In what world is this more fair? >An example is the New York Stock Exchange Day Intermarket Sweep Add Liquidity Only Order. This isn't even a thing -- what would an ALO ISO even mean? >High-frequency traders pay to locate their computer servers inside of exchanges’ order execution centers, where they get early access to trade information that they use to jump in front of — front run — other clients. Okay now he's just either misinformed or lying. Who wrote this article?