“The Wall Street wizards who built a faster, more fragmented stock market justified their creation by pointing to the benefits it yielded for investors in the form of lower trading costs. But with trade times now measured in millionths of a second, a growing number of studies and market participants suggest that those benefits to investors have stalled or even started to reverse. The advantages of the nation’s increasingly high-speed stock market are under the microscope after a number of recent trading malfunctions underscored the risks and instability that have come with the rapid changes.”
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