Little scams like this (plus automated high speed trading by computer looking for similar tiny margins to essentially game the system) are part of why I am a proponent of something like a 0.1 percent transaction tax on every trade.
Its nice to see that the SEC is going after some kid in his pajamas 3000 miles away but HFT firms that do this thousands of times A SECOND day in day out are allowed to do it no questions asked.
Little scams like this (plus automated high speed trading by computer looking for similar tiny margins to essentially game the system) are part of why I am a proponent of something like a 0.1 percent transaction tax on every trade.
Yep a small tax on every offer to buy or sell would fix this – heck you could even make that tax refundable if the order is actually executed.
Its nice to see that the SEC is going after some kid in his pajamas 3000 miles away but HFT firms that do this thousands of times A SECOND day in day out are allowed to do it no questions asked.
Sherman McCoy’s “cake crumbs” on speed.
The HFT machines are going to make all the Sherman’s obsolete though.