Oh, and spare me the arguments about “liquidity”…
I applaud Mary Shapiro and the SEC‘s decision to put an end to this practice. On a basic level, high frequency or flash trading was no different than the rounding error scheme from the film Office Space whereby fractions of pennies “that no one would miss” would be skimmed on billions of transactions.
Theft is Theft.
Here are some takes from ’round the web: