Is NASDAQ "Selling Out" To HFT Or Playing By The Rules?

When the Nasdaq exchange decided to close down its Market Velocity and Market Forces products on October 30, it ended an 11-year run for a data feed that had received limited customer traction but garnered much attention recently. The controversy that surrounded the product's end, news first reported by The Wall Street Journal, raises questions about what exchange data should public and what should remain private. Stock exchange competitor IEX claimed Nasdaq was “selling out” to high frequency trading firms by monetizing confidential client information. In the increasingly important world of “alternative data,” this product allowed very quick traders to gain access to information about large institutional orders and trade in front of those orders, IEX charged. With yet...