Recent fines and admissions from regulators in many markets from commodities to currencies has proved that market abuse is sadly rife in our exchanges . I have been brave enough over the last decade to question the relevant authorities that the need for
speed has provided a mask for mass market abuse . The same discussion occurred with both with Athletics and more recently cycling ; our so called heroes were in fact frauds ; Johnson ; Flo-jo ,Gatlin and Lance Armstrong .The question being offered was simply
that their records were unreal ; Flo -jo's 200 metre record in 1988 =21.34 being totally assisted by drugs . In financial markets we witness Virtu financial accounts of ONE losing day in 6 years ! (2191 winning days !) This is I believe only achieved illegally
or with help from exchanges ; who waived several trading rules ? The remedy is simple and can be implemented immediately BUT markets would suffer volume and liquidity ; just as athletics and cycling have suffered not breaking these false records !
We therefore can carry on allowing all forms of trading ;obviously the exchanges choice as provides best profit for share holders ; OR we decide on ZERO TOLERANCE ; painful yet will restore "fair and orderly markets " eventually ? However like most medicine
the recovery because of the disease will take time . These recent events of abuse and fines has finally shown us that exchanges have no longer the authority to regulate their own exchanges and despite the fines and guilt ;the innocent parties are still out
of pocket ;still awaiting apologies and perhaps compensation ? Finally there is a remedy BUT why go back to the very people who ignored it in the first place ? Exchanges cannot go unpunished as their market supervision depts were very aware of the blatant
abuses ; I sent many an email to LIFFE ; EUREX & CME .