This is spot on, no one would actually follow that protocol. Tangentially, the best side effect of HFT seems to be that a lot of technical people have become m

This is spot on, no one would actually follow that protocol. Tangentially, the best side effect of HFT seems to be that a lot of technical people have become more sophisticated in understanding incentive structures and contracts. I wonder how that affects funding decisions for startups of the ex-HFT crowd.