The trading pit that electronic trading replaced had far more potential information leakage. You can see which broker is demanding what. Also in order to get th

The trading pit that electronic trading replaced had far more potential information leakage. You can see which broker is demanding what. Also in order to get the "direct feed" you had to be an exchange member, or rent a seat from someone who was. What we have now is a far lower barrier to entry at the cost of all the existing players. And many of those players are mad.