>>Bullsh--.
"Automatic programs began issuing and canceling tiny orders within milliseconds to determine how much the slower traders were willing to pay."
Bovine Excrement has always accompanied the keepers of The Bull...
While markets are supposed to ensure transparency by showing orders to everyone simultaneously, a loophole in regulations allows marketplaces like Nasdaq to show traders some orders ahead of everyone else in exchange for a fee.
Do you know _anyone_ who gets real-time data (let alone real-time book data) FOR NOTHING??
BTW, it isn't millesecond time intervals now, its microseconds.