Quote from bevo96:
This is one of the most uninformed, idiotic statments I have ever read. Flash orders no longer exist anywhere except Direct Edge and the buy side traders choose to use them with hopes of price improvement. HFT strategies can put the picture together and hit the button faster than a manual guy. Its not like they have a direct feed showing them the buy side order flow before it hits the market.
If you want to talk about front running, lets talk about what used to happen in the pits at the Merc and BOT as well as on the floor of the NYSE.
Flash trading was blatant frontrunning.
The old "gap and print" from the floor specialist was criminal.
Both systems were flat out stealing.