From the Archives: Measuring the 15-Microsecond Dash with Professor Eric “Batch” Budish
Boxes and Lines
Batch Auctions: The Rules of the Game
Eric Liu: It may be legal currently, but it certainly should be legal and permissible for an exchange to adapt and innovate in a way that makes that kind of behavior less profitable. He says there were also people at one point who argued that insider trading should be permitted because it just helps markets to function more efficiently if there's a competition for people to do so. "I've been arguing that we should have different, slightly different rules of the game," he says.
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