Schwab and Bettinger, About Schwab, High-Frequency trading is a growing cancer that needs to be addressed, here. Maybe over time you can accrue too much credibility, and then you have to lose some of it.
Schwab serves millions of investors and has been observing the development of high-frequency trading practices over the last few years with great concern. As we noted in an opinion piece in the Wall Street Journal last summer, high-frequency trading has run amok and is corrupting our capital market system by creating an unleveled playing field for individual investors and driving the wrong incentives for our commodity and equities exchanges. The primary principle behind our markets has always been that no one should carry an unfair advantage. That simple but fundamental principle is being broken.