Recent studies of several exchanges contracts suggest market abuse and manipulation is

still in operation .

Exchanges have always needed market makers to provide liquidity and volume especially

with new contracts ,(crypto currency ),however we have recently seen several exchanges now beginning to employ their own .

The question needs asking ?

Do the exchanges give their traders an advantage ?

1. via co-location

2. via front running orders

3. vision of order books and flags

4.via laxed supervision

5. via invisable "last look" trades

Perhaps the reason regulators fail to intervene is because exchanges are exempt form the laws of trading !

If your in doubt have a look a the ladder in the order book most days ?