[astanway]

That isn't true. Making an order with an intent to cancel is a crime. Hedge funds routinely cancel orders, but they do not necessarily make them with the intent to cancel them from the beginning.

[jliptzin]

Insider trading is also a crime yet it is widespread on wall street, like snowflakes in a blizzard.

[hermitdev]

Perhaps the most routine trade I see is with a Time in Force of Immediate or Cancel. Fill or Partial Fill if you can, cancel the remainder. Happens millions of times a day.

[raincom]

Market makers have special privileges. That's why they abuse with spoofing, boxing, jumping, etc using offshore entities.