Ayala Pharmaceuticals Inc (ADXS)

[equaloppforall]

Agreed, Ig. But HFT's advantage of transactional speed must be the central argument to outlaw it. While the manipulative algos are indeed the primary cause of the damage, the high speed allows them to implement that manipulation instantly and at will. In other words, the algos are an expression of business intent.

However, proving manipulative intent and action, or regulating them at the level of individual trades, is pretty much impossible. The only workable solution is to outlaw it on the grounds of creating unequal market access. To be sure, the case for outlawing HFT can actually be taken to the courts as well, but it will take much longer, and someone with truly deep pockets, to fight it out.