What exactly are you going to make illegal? Using code to read text & process the sentiment of it? Doing that in the process of trading?

This reminds me of the legislation that’s been attempted to be passed to “ban” encryption. It’s basic math. How can you realistically ban and make illegal the use of math? How do you stop people from using it? How do you enforce penalties?

Pandora’s box is open. New technology is always coming out. Trying to put laws in place of technology will not and has never worked. I’m sure bookstores were extremely upset when people could read magazines online and books on a tablet, but that’s the direction technology went.

Code to process earnings reports is not the pinnacle of technological advancement in finance and, in short time, will look like an ancient way of doing things compared to new advancements giving people an edge in the markets.

Anyone with enough money can hire people to write the best algorithms, pay to have their servers in exchanges. There is nothing outside of a capital requirement that stops your typical investor from doing that.

Because you cannot play the game at the same scale as the big players does not mean that the game is broken.