The resolution issue on prices is not clear-cut. Liquidity is good, and I'm happy to have it. But infinite resolution (price, timing) trades do not per-se follow. And they ultimately, themselves, have a feedback loop. INstitutionalized front running (changing examples) is not benign liquidity, for example. Dynamic hedging would at least be a legitimate use, but absence its availability should be priced in accordingly in seperate markets.
The resolution issue on prices is not clear-cut. Liquidity is good, and I'm happy to have it. But infinite resolution (price, timing) trades do not per-se follow. And they ultimately, themselves, have a feedback loop. INstitutionalized front running (changing examples) is not benign liquidity, for example. Dynamic hedging would at least be a legitimate use, but absence its availability should be priced in accordingly in seperate markets.