From the article:
Perhaps, like Goldman, Fidelity knows that “unless things change, there’s going to be a massive crash – a flash crash times ten…”
– The HFT Blowback Continues: Fidelity Creates New Trading Venue (ZeroHedge, April 10, 2014):
In what the firm believes will be an improvement over other so-called dark pools because it will be a collaboration among big mutual-fund firms, WSJ reports that the giant fund manager is quietly building a new trading venue designed to let big money managers sidestep many of the problems that they argue lead to unfair or costly trading – i.e. avoid the HFT predation. Fidelity, with $1.95 trillion of assets under management, is in the initial stages of planning the trading venue and has just begun to pitch the idea to other large asset managers. It seems 5 years of vociferous exposure and a Michael Lewis book may be beginning to starve the HFTs of their prey.