I agree with everything except the last sentence.
The NASDAQ is another example in a long list of corrupt exchanges, with a lot more volume pouring through it.
The volume/exposure is the reason you go there, not regulation enforcement.
http://www.zerohedge.com/news/skynet-wars-how-nasdaq-algo-destroyed-bats.
http://www.zerohedge.com/news/2014-04-07/father-high-speed-trading-speaks-market-we-created-casino-complete-mess-rigged-game