The SEC staffer argued that it was unfair that high-frequency traders couldn't post phony bids and offers on the exchanges to extract information from actual investors without running the risk of having to stand by them. (Michael Lewis (author))

The SEC staffer argued that it was unfair that high-frequency traders couldn't post phony bids and offers on the exchanges to extract information from actual investors without running the risk of having to stand by them.

Michael Lewis (author)

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actual extract having information post risk running stand phony sec staffer

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