There is a book out that basically claims that a difference of a few miles of fiber optic cable can give traders an advantage—and we’re talking the speed of light here. That’s how fast the trades are happening.
“There is a book out that basically claims that a difference of a few miles of fiber optic cable can give traders an advantage—and we’re talking the speed of light here. That’s how fast the trades are happening.”
I know, I’ve heard of that also. I suspect most people don’t know about it, and also don’t know how much 0.1% will actually cost them.
“The Flash Boys” by the same guy that wrote Moneyball.
“The Flash Boys” by the same guy that wrote Moneyball.
I have read the same thing.
Anyone who thinks that the average retired schlub in Peoria is going to compete by paying $17/month for access to level II quotes needs to re-think that.
But, it will move the exchanges to a lower tax destination. New Jersey already threatened to do this and both NASDAQ and the NYSE responded by testing moving their servers to another state. If the US imposes a federal tax, the servers will move to London or possibly some small tropical island. Jamaica has a reasonably well-developed financial industry.
There are huge side benefits to NY being the financial capital of the world, but I have little doubt our politicians can kill that goose.