The article reminds me of the book Flash Boys by Michael Lewis. Lewis also describes what was going on (and maybe still is) at the Wall Street with dark pools, HFT and normal traders. Definitely worth the read.
EDIT: maybe I should've read the article to the end before commenting. But my recommendation for Flash Boys stands. It is a good book.
Many of us felt Flash Boys got it wrong; Levine is careful not to be too critical of his colleague but certainly gives that impression. (The "Shilling for the buy side" article that was posted here shortly after it came out covers much of the criticism).
Thanks for the suggestion of 'Shilling for the buy side', really interesting read besides the many insults. I especially like the many links for even more information. I try to gobble up as much as I can, the stock market is extremely fascinating and interesting.
Of course Flash Boys is quite one sided and as it is with most things you should read it with a grain of salt. It's entertaining though.
EDIT: maybe I should've read the article to the end before commenting. But my recommendation for Flash Boys stands. It is a good book.