http://tinyurl.com/p2xfgl ......"Meanwhile, flash orders have become a hot-button issue in recent weeks amid questions about transparency and fairness on Wall Street. A flash order refers to certain members of exchanges -- often large institutions -- buying and selling information about ongoing stock trades milliseconds before that information is made public. Nasdaq OMX Group Inc., which operates the Nasdaq Stock Market, and the BATS exchange have voluntarily stopped using flash orders, which made up an estimated 3 percent of stock trading. The New York Stock Exchange has never used them. In July, Sen. Charles Schumer, D-N.Y., had called on the SEC to ban flash orders, threatening legislation if it failed to act. "This proposal will once and for all get rid of flash trading, which if left untouched, could seriously undermine the fairness and transparency of our markets," Schumer said in a statement Thursday."...... What implications does this have for the overall markets? Dry-up in liquidity? Short GS now? The end of RenTech and Jim Simons?? I don't really have a good handle on flash order trading, so just trying to gain some perspective.