Yeah, it makes sense to advocate for that if you are a sophisticated trader who hope to fleece the naive retail. For 99%+ of people though near instant price di

Yeah, it makes sense to advocate for that if you are a sophisticated trader who hope to fleece the naive retail. For 99%+ of people though near instant price discovery and efficient price is a big net benefit. Imagine news broke that makes a company worth 15% less. Naive investors isn't aware of it and makes their bid on the market. They look at a recent price, make some offer and buys the shares now worth 15% less while bankers who were able to process the information just made a killing. This is even worse in "slow exchanges" where participants need to come-up with bid price themselves because recent transaction price is not a relevant indicator of fair value.