U.S. exchanges have become a handful to handle. It seems that all of the order types they’ve instituted over the years to keep customers and regulators happy may have had the opposite result.
But it’s not Elizabeth Warren or Bernie Sanders or some other Capitol Hill communist levying these charges. It’s the exchanges themselves. And rather than doing something about the things they’ve done to make themselves “overly complex and opaque” at the expense of ordinary investors, they’d prefer to have Congress make them do something.