There are already triggers in place now to stop trading when it gets out of reasonable bounds not right? Say like a x% shift throws an alarm that halts orders u

There are already triggers in place now to stop trading when it gets out of reasonable bounds not right? Say like a x% shift throws an alarm that halts orders until a human looks at the situation, etc. I like the ticking exchanges (like the FTSE does not right?) where it "ticks" on the microsecond or some such so some of the clever hacks (locating near the datacenter) are eliminated. The real question at stake here is do we want to hold back real algorithmic innovation that we actually want? Of course we need to have alarms to head-off flash crashes, but we want a lot of great people working on getting information into the market as fast as possible right? I mean the end goal as I see it is the replace of most traders to algorithms that bring prices closer to market with better/faster information.