For what it is worth, the argument for or against is a side show. The LME has created an almost unique exchange scenario whereby participants have the choice to trade themselves by pushing their mouse around and clicking its buttons, or by pushing their broker around while pulling or pressing more buttons. Liquidity has been affected by the introduction of computer trading as traders are reluctant to exhibit their entire book to the market at large, whereas the macho floor trader may wish to demonstrate that his (order) is larger than his neigh bour's (no sexist connotation implied). Who is right and who is wrong is a question only history can answer.
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