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Somewhat tangential, but I hope someday we can move more towards having stocks trade regularly but not on microsecond timescales. All of the fragmented liquidity being exploited by HFT is not a net economic gain. The exchanges already have an auction process to set opening and closing prices. Just run the same auction process every 10 minutes allowing liquidity to pool.


Then all the liquidity would aggregate within the last millisecond of that 10 minute interval




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