The point not to be missed in all of this is that Eric and some others have been capturing and sending proof of daily fraud and security crimes to the SEC and prosecutors every week over the past 5 years and still HFT continues to spread and rape profits and hire high profile characters (like Ben Bernanke) as their PR wing as if it were a legitimate business model. You can follow Eric Hunsader’s work every day on Twitter here. The great insult to injury in all of this is the relentless BS from business channels and mainstream guests that the flash crash of 2010 was a one off now fixed, and that high speed “millisecond” trading is in the ‘best interests’ of legitimate investors. They think we are all dumb. And so long as they are allowed to rake in billions from their racket, hey, I guess they are right.
Nanex CEO Eric Hunsader was awarded $750,000 by the SEC today for alerting regulators of suspected irregularities surrounding 2010’s flash crash. Here is a direct video link.