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How is market makers aggressively competing for positions bad?


It's not "let's take over the world" bad, it's just a lot of effort expended on something that's of little value. Working a lot towards something that isn't any good could be thought of as a kind of bad.


Yes but what are the unintended side effects & are they worse than what you are curing? Removing the pits in exchange for electronic trading is a huge win. It's unclear how to keep that win & skincare hft.




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