Price the early look

IEX Puts Speed Bump in Path of Fastest Trading

This is about the new stock exchange which pauses each complete trade for almost a millisec before updating the public trade book. Thus, high frequency traders who try for an early look, in orer to front run a price change, will no longer have the advantage of being 'closer' to the tradebook.

The better solution is to place the trading bots right inside the space containing the trade book and give each bot round robin access, and the let the bots automatically engage in hedging, fairly. If some bots wtn a higher priority access to the trad ebook, charge those bots a fee, and split it with the other bots willing to wait in line.

Prior to IEX, the intra trade liquidity was done in secret with a specially chosen company picked by the  NYSE directors.  But that function is really the market making function and should be an observable random process called the pit boss, justy another observable, automated trading bot.

Now that we have the sandbox, a lot of this shit gets fixed.