Schwab Says HFT Is "Cancer," Calls For Aggressive Action

Key executives from Charles Schwab Corp (NYSE:SCHW), a firm catering to mom and pop investors that advertises trust and stability, have issued the most damning indictment of high frequency trading yet, calling the practice a “cancer” on the markets.

“High-frequency trading has run amok and is corrupting our capital market system by creating an unleveled playing field for individual investors and driving the wrong incentives for our commodity and equities exchanges,” said firm Chairman Charles Schwab and President and CEO Walt Bettinger in a statement.  It is interesting to note the commodity exchanges, which are the behind-the-scenes powerhouses driving...