This isn't a definition of front running that anyone in the industry uses. As you say, this is just arbitrage on public information. Latency arbitrage has been

This isn't a definition of front running that anyone in the industry uses. As you say, this is just arbitrage on public information. Latency arbitrage has been occurring for the last 200 years at least, it's an inevitable outcome of any system with multiple, geographicly separated markets. P.S. I read Flash Boys. It's not very good.