Major stock exchanges are trying to slow down high-frequency traders

The InterContinentalExchange, which bought the New York Stock Exchange about a year ago, released new rules yesterday for a few new no-nos for trade order types. Mainly, you can’t enter an order or market message with:

• The intent to cancel or modify the order before execution
• The intent to overload, delay, or disrupt the systems of the exchange or other market participants
• The intent to disrupt orderly trading, the fair execution of transactions
• The intent to mislead other market participants