The recent claim by CME exchange and assisted regulators that its taken 5 years of monitoring to catch "Nav" the spoofer proves that perhaps anonymity trading no longer is required ? Perhaps now is the time for a virtual pit where the market can see all
the players ? Many years ago L.I.F.F.E produced an after hour system on screen called APT ; where every trader was tagged with a mnemonic and seen on every order . Anonymity appears to have benefitted rogue trading and allowed immediate abuses to go undetected;
a vitual pit would allow the market place to judge and either ignore these "flash" "spoof"orders and respect understand real orders . This operation also makes every trader recognisable immediately and therefore aid real time regulation ; any abuses would
be seen and officiated asap therefore providing a fair and orderly market . Sometimes good ideas are very simple !