Heated Response to Cancellation Tax Proposal

My proposal for an order cancellation tax has taken some heat from the anti-taxation crowd over at the T3Live Blog. The debate has been fun and interesting.

I think it's worthwhile to post a few white papers out of Themis Trading that highlight the current and potential problems with the rapid growth of high frequency trading. Check them out:

What Ails Us About High Frequency Trading?

Why Institutional Investors Should Be Concerned About High Frequency Traders

Latency Arbitrage: The Real Power Behind Predatory High Frequency Trading