Well I lasted less than one minute. I could not concentrate on this show. Between the gasping and wheezing and typing it was a waste of effort. Somebody needs a doctor.

I gotta call “Bull” on you Chris for HFT only affecting Big Index & Institutional trading as my experience as a small, small trader on a broad range of pm stocks, once the order was in (usually liquid names) the initial order partially filled and if I wanted it completed I had to chase price up, time & time again. This is against a backdrop of continuous falling pm prices in the broad sense. Eventually, as you say, for the pennies involved if you want to be in the game then it becomes sadly ” a cost of doing business”. If the Regulators really get down to looking into it they will probably find that there was no “morsel” left uneaten by HFT.