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HFT lawsuit against CME 'peeks' just the first salvo?

from Traders Magazine

The lawsuit filed against the CME Group, Inc. over allegations the company allowed high-frequency traders an early peek at its order info, is a "horrible precedent" that we will likely see more of, said one markets expert. "There's a saying, 'Where there's a hit, there's a writ'," said Prof. James J. Angel, a visiting professor of finance at The Wharton School of The University of Pennsylvania. "With all the negative attention and misconception about high-frequency trading since the release of Michael Lewis's Flash Boys, lawsuits making these allegations are going to become more prevalent," he added. more

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