I'm unsure how it doesn't fix the speed advantage. Anyone can get in front by bidding a millionth cent more. You can keep doing that until the price starts mattering, right?
I'm not against HFT at all. But having such granular pricing doesn't do anyone favours. More decimals would reduce spreads as well as silencing HFT critics and maybe make trading a bit more accessible without as much high end systems. But the spread reduction is valuable alone.
I'm not against HFT at all. But having such granular pricing doesn't do anyone favours. More decimals would reduce spreads as well as silencing HFT critics and maybe make trading a bit more accessible without as much high end systems. But the spread reduction is valuable alone.