ASIC wants us to believe that the HFT’s have no advantage. If...

ASIC wants us to believe that the HFT’s have no advantage. If that the case, then please release the specifications for the computer interface to the ASX system. Bet they won't, as they know we'll then realize what a big advantage these traders have over the rest of us. Why on earth would these guys spend millions to establish the system and links to the ASX. Those who have the data can game the system.
Does anyone realize here that the large corporate US banks are the adjudicator of CDF's. Just think, from the data they have they can see who is expose and just go in for the kill, you can't trust these people with any information, they will game you.
Michael West of the Age has been on ASIC's case for years about how lax they are at enforcing anything. He asked in March 2012 why many large companies were in breach of their annual reporting requirements, some hadn’t reported for years. Their comment was we can’t comment on operational issues.
If you want some interesting look at ASIC's former chairman Tony D'Aloisio purchase of Oakridge winery.