Do we have high frequency traders in SGX?

/// Eric Hunsader, founder of Nanex, has been at the vanguard of warning about the dangers and the rampant fraud that the rise of high-frequency trading (HFT) algorithims have let loose in today's financial markets. .....

Of the situation that led to his award, he says:

"The folks at the NYSE were selling their direct feed for north of $30,000 a month versus the SIP which is under a thousand dollars a month. Their customers are not buying it because it has that much more rich data. The thing that makes it worth $29,000 more is that it is faster, but that is illegal. Up until this point they deny that that is the case. And somehow it works. So the exchanges make all their money from their highest paying customers which are the high frequency traders. And the high frequency traders pay the exchanges exorbitant amounts of money to have a slight advantage.

That's how the whole system works. It is absolutely, positively rigged. There is no question about it. It is rigged on many different levels in many different ways -- for example, no retail order ever gets to see the light of day of the stock exchange. That's one of the many eye openers. People who aren’t pros in the market don’t realize that it's all a rigged game. "

Hunsader also had opportunity at one point to access the audit trail data from the CME futures exchange, data that the central authorities almost never allow outside eyes to see. What he found was clear evidence that a very small number of very large players push prices and volume around at will to vacuum up profits at the expense of everyone else:

SOURCE:
http://www.zerohedge.com/news/2016-04-19/eric-hunsader-financial-system-absolutely-positively-rigged

 

This is a very important piece of information and deserves to be an article on its own so that more people can read about it.

Why would HFT traders want to pay another $29,000 pm just to be faster? The return must be much more than the $29k pm.  But this is not the only advantage, by being faster. They are not telling the whole truth and the fraud and cheating involved. Why did they said it is rigged? Who are the victims of the rig?

Who allowed this fraud to be practiced in the exchanges?

What we have is a bunch of crooks that knew what is happening but chose not to know. And we have a bunch of people kpkb about everything but the real issue, did not know what is going on. And the end result, the traders taken to the laundry and the exchanges turning into a casino that would run to a standstill in a matter of time.

This is irresponsibility at the highest level.