Ah, a band-aid on a band-aid. What was wrong with open outcry? Sure, you had to physically be there, but nothing has changed - traders still cluster around exc

Ah, a band-aid on a band-aid. What was wrong with open outcry? Sure, you had to physically be there, but nothing has changed - traders still cluster around exchanges to keep latency low, HFT kit still lives "on the floor", and what was once done with humans and bits of paper is now done in a far less efficient fashion with computers. Less, because the marginal benefit ends up going into the pockets of those who can afford exchange co-lo and mountains of hardware to parse FIX a tick faster than the other guy, meaning that the rest of the market ends up suffering, and not having a more efficient fill mechanism, as touted. HFT is that asshole who takes his umbrella with him into the pit, and blocks your trades. If anything, the solution here is to abolish algorithmic trading, and decrease tick resolution substantially, which if lengthened enough, would take C out of the question and make the entire market equally accessible to all. I mean, seriously - does the value of Brent light sweet actually change thousands of times per second? According to the markets, yes, according to reality, where people buy futures with straddles/swaps so as to have a fixed, manageable cost, no. The entire thing is un-necessary, and doesn't add value to humans.