There's no front-running. I'm not sure why you would hail them as heroes if they sell an inferior product at worse price, seem to have a personal agenda in getting regulators to bite at the heels of their competitors and the products that they provide, just because they are superior and faster; or a vested interest to bring us back to the cold age so that they can save some money on 10/40 Gb networking gear. (Are they so poor?) Instead of spending so much time traveling around, giving talks on this, generating graphs with unclear content, Nanex's customers would have benefited so much more if they had spent that time developing better products.
I am a Nanex customer and I think they've got a fantastic product. I'm particularly impressed with what it does in the bandwidth/CPU footprint in which it operates. Reliability, both of the feed and the receiving application, has also been excellent -- better than the exchanges themselves, in my experience. Who sells a superior product for a better price? (That's not a rhetorical question -- I really am curious to know your take on this!) I don't know about this FOMC release case, but I've dug into the raw data for many of the situations that Nanex has flagged, and all of them looked like bad behavior to me (whether intentional bad behavior or not, I can't say -- my guess is that a lot of it is accidental -- but it's still bad and degrades the quality of the market). As a customer, I think it's fine that they look into these things, as they're flagging situations that no one else is covering. I do agree that they should put their own product development first, if for no other reason than the threat of competition. But I have no reason to doubt that they're giving their continued product development the attention it requires.