Yeah, they would go offshore. But it would never get to that point, because the entire proposition is so asinine. Your pension fund already trades on global ex

Yeah, they would go offshore. But it would never get to that point, because the entire proposition is so asinine. Your pension fund already trades on global exchanges. Your pension fund has a best execution duty. In fact splitting US equity trading into slow/fast is actually an HFT's yet dream. Price discovery would happen offshore and then they would be filling (or ignoring) slow traders onshore. What a trip.