" Registered market makers, increasingly a dying breed, have strict capital requirements and three main responsibilities to the investing public: 1) Make an orderly market when imbalances between buyers and sellers occur, 2) Bring two customers together to facilitate trades, and 3) Act as an agent representing customers."
WTF? 3) is simply laughable...
"3) Change the take and pay model for buyers and sellers. Each party pays 5 cents per hundred shares traded to the exchange as a fee. Anyone who cancels a bid or offer before there is a trade pays 5 cents per hundred. Registered market makers pay zero, unless they cancel a quote before a trade takes place."
Yes, what about replacing a system with structural weaknesses by a fully crooked one...LOL.
HFT is a threat to the market( on equities ), but nowhere near those that propose solutions to HFT.