http://www.zerohedge.com/article/asia-flash-crashes-berserk-algo-caught-red-handed
Only a matter of time until the algobots come into grain markets and arb against the grain ETFs on the stock exchanges.
At which point anyone with a stop or other order resting anywhere within the maximum daily range will get a surprise.
The philosophical argument about trading limits aside, in this environment they are good simply because they limit how much the market can be flash rammed in a few moments.
Non-HFT trading is drying up on stock exchanges, I expect the same to happen in futures at some point. How else could the volume seeking privitization and electrification of CME have turned out?
