Watch out, stock market, here come the SOES Bandits

The market makers complain that the SOES bandits are taking advantage of the Small Order Execution System, using it for something it was not designed to do. But the SOES bandits think that’s just the big guys complaining they no longer have the field all to themselves, and they just keep trading. Several days last summer, SOES traders made so many deals that they overwhelmed NASDAQ’s computers, and the SOES had to be temporarily shut down. (Houston Press)