Why would someone trade his cushy and stable, $1.5 million/year job managing trading for the Royal Bank of Canada and instead jump to a startup seeking to compete against established financial exchanges such as the New York Stock Exchange , the dozens of smaller exchanges, and privately-owned “dark pools” that promised an edge on high-frequency trading?
Altruism. To offer investors a more fair marketplace, where they had confidence another more-privileged trader wouldn't front-run them. And it worked.
See how high-frequency trading worked the past seven years, and why the new Investors Exchange #IEX
and others like it herald the next regime. Here's the story.