Let me clarify: my random delay shuffles incoming orders, while random exchange delays (outside of CME iLink games) do not. Removing determinism hugely hurts speed.<p>The value of further decimalization seems questionable. It would in all cases reduce displayed size. Would transaction costs still decline due to tighter spreads? For the liquid lower-priced stocks, probably. For stocks whose natural spread is &gt; 1 cent (most of the expensive stuff), certainly not. For everything else, hard to say.<p>Maybe a Japan&#x2F;Europe-style tick increment schedule is a good compromise.