Crying

Lots of carping about algos as it gets tougher for a large number of participants to beat markets.  Without going into the efforts designed to magistrate the upside of equity prices by sovereigns and Fed, the main problem with non performers is their approach.  Works for a bit and then dies.  Adaptive quantitative approaches out perform year after year.

As for the general complaint about algos; what did the complainers think was going to happen?  The world is headed towards algo solutions in nearly every business enterprise.  And as for front running market information based on latency, it exists because exchanges want it to exist.  Volume transactional deals abound because markets are primarily transactional machines for price discovery.  The uncertainty of price movement creates opportunity for applications to take advantage of structural price execution mechanics.  

Algo participation can be changed by exchange rule based on viability of price.   The IEX is an alternative to place limits on latency but it will not end algo development or dominance of strategies which provide excess return in all time series approaches not just HFT.