Will the internet destroy the stock market?

MOAR SCREENS!
MOAR SCREENS!

 

Author argues that complexity will hit a break point and eventually bring down the whole system. I can’t really disagree with the assertion and I see no need for increased speed (lower latency) in the stock market whatsoever. Exchanges are for-profit institutions with HFT that largest customer. I believe HFT has reduced spreads but has also reduced liquidity, a simple one second cancel replace rule would solve many many problems IMHO.

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