HFT robots seeing orders before the exchange ?

Quote from PocketChange:

Correct:

NYSE as a SRO is chartered to maintain and regulate a fair and orderly market. Appears they have a conflict of interest as SRO while having a financial interest to license access to their proprietary feeds.

I was really surprised to read the SEC actually took action and whacked a traditionally untouchable SRO.
More...

Great Thread guys.
Seems SRO status might change in near future - SEC Chairman saying

http://online.wsj.com/article/SB10001424052702304906704579111483532305624.html
 
There are many times when I would place a limit order way ahead in advance, sometimes well over 30 minutes, but still do not get a fill when the price is hit ...or that I'm usually the last to get filled. Not always, but far too many to feel like I'm being duped.
 
Yea i notice not only am i the last to get hit usually, but i am always the last bid/offer sitting there and all other exchanges are cleared. for example if i bid 5000 shares on arca, there will be exactly 5000 shares only on the bid on arca and all the bats, edgx, island etc will be totally cleared out... and i will always see massive prints going on in the other ecn's but i always seem to be the last fill to clear the level, unless the market is ripping then the whole level gets taken out simultaneously. Its eerie.
 
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