[foobarqux]

> There is no promise in the markets that everyone will have all relevant information at the same time and at the same quality.

There may be no such promise but it is not clear on its face that such a promise should never exist, for example, to maintain liquid and orderly markets.

Is there any situation where it would be desirable?

If only 10 entities could buy real time stock quotes from the exchanges and everyone else had a 5 minute delay, wouldn't that be undesirable?

And what about government interest rate decisions? Should some entities be allowed to get early access?

[tptacek]

This comment is running off on a tangent but I think it's important to understand that Kasey is right here, and front-running orders requires knowledge of the victim's specific trading intent. You aren't "front-running" simply because you're smarter than some other market actor.