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Net Net: Promoting innovation and managing change

Forget 'Flash Boys,' markets are fine: TD CEO

Fred Tomczyk, chief executive officer of TD Ameritrade Holding Corp.
Scott Eelis | Bloomberg | Getty Images

Michael Lewis may have sparked outrage that the markets are rigged with his indictment of high frequency trading in "Flash Boys," but the head of one of the largest retail brokerages isn't concerned.

"The retail investor today has it better off then they've ever had it in history," Fred Tomczyk, president and CEO of TD Ameritrade, said Monday during a panel discussion on securities trading at the Milken Institute's Global Conference in Los Angeles.

"There's a lot of noise around Michael Lewis' book. We have 6.1 million customers, but we've had 70 phone calls and 120 emails since that book caused all that emotion," he added.