It's nothing to do with "high frequency" or high volume trading. It's grounded in the fact that firms base their trading strategy on scraped sentiment and macro

It's nothing to do with "high frequency" or high volume trading. It's grounded in the fact that firms base their trading strategy on scraped sentiment and macro news. When a delta occurs between reality and signal input all hell breaks loose. All of which has nothing to do with the speed at which trades are submitted and executed. A financial tax is laughable. That would truly impede market efficiency, a much better approach would be to mandate a minimum holding time of each order in the ELOB say 1000 micros before it can be amended or canceled.