That's all it's intended to be.
Is there anything forcing them to keep supplying liquidity even if the market's moving against them?
No.
If not, and they earn a premium, why isn't that evidence that something's broken?
Wait for part 3. I do believe HFTs are capturing fractions of a penny in rent and I have an idea of how to fix this.
That's all it's intended to be.
Is there anything forcing them to keep supplying liquidity even if the market's moving against them?
No.
If not, and they earn a premium, why isn't that evidence that something's broken?
Wait for part 3. I do believe HFTs are capturing fractions of a penny in rent and I have an idea of how to fix this.