Brian Noble
Gratefully in Recovery
- Joined
- Mar 23, 2004
- Messages
- 18,589
It is still true that only if all walk or none walk does the system actually provide equal footing when booking.
The system can't provide equal footing. For example, this is why high-frequency traders used to rent space at the Baby Bell switching stations: they had lower latency to the Internet backbone, and hence the markets. (Now they can just co-locate explicitly near the markets---for the right price.)