Flash orders allow some traders to see what other traders are doing befor the trades are placed. With high powered computers, these traders can then make trades within milliseconds to capitalize on the other investor's trade.

Why are these types of orders allowed?

Isn't this a new version of insider trading?

I don't mind traders having an advantage by using computers to execute trades very quickly, but this type of flash order trading goes into an area that is closert to cheating. Not all traders get to see these flash orders.

I'm just learning about flash orders so any additional information members could provide in the comments would be appreciated.