Bloomberg TV ran a segment on cheaters - who cheats, why people cheat and how to get them to stop cheating.  I was lucky enough to be part of that discussion, which included Dan Ariely, a behavioral economist from Duke who's been reaching this topic for quiet some time.  The discussion quickly moved to whether or not markets are fair - a word that I think has little place in this discussion.  Rules and regulations should certainly make a level playing field, and those who break the rules should not be allowed to play.  But being penalized for being smarter, or faster or richer isn't what a free market system is about.  

Please watch the segment below or click here and let us know what you think.

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About Kevin McPartland

Kevin McPartland is the head of market structure and technology research at Greenwich Associates. He has nearly 20 years of capital markets industry experience with deep expertise in market structure, regulation and technology impacting the fixed-... view more

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