U.S. stock markets are rigged, says author Michael Lewis

Re:U.S. stock markets are rigged, says author Michael Lewis by pak on Sunday March 30, 2014 @11:39PM (#7499471)

Then forget the FIFO convention. How about a hardware random number generator?

However, this doesn't fix the problem with placing and canceling lots of orders to sway the bucket toward the end of the 5-minute window. I suppose if some could do this faster at the end of the window then others, they would still retain an advantage.

(Imagine somebody placing many orders, monitoring how many are likely to be fulfilled advantageously, and then cancelling the disadvantageous ones as close to the end of the window as possible.)

That could perhaps be solved with fees for cancelling bids or asks.

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Re:U.S. stock markets are rigged, says author Michael Lewis by kasey_junk on Sunday March 30, 2014 @11:43PM (#7499478)

There are already fees attached with canceling large amounts of orders, and most exchanges provide less fees (or even rebates) for providing liquidity (being the order that is taken off the book) vs taking liquidity.

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