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New York loses $1 trillion in Wall Street business as firms flee the city: report
nypost.com ^ | August 21, 2023 | Shannon Thaler

Posted on 08/21/2023 7:35:38 PM PDT by lowbridge

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To: Col Freeper

Well, outdated to a degree; but only you would notice that at first. It’s excellent in the overall.


81 posted on 08/22/2023 3:23:43 PM PDT by Albion Wilde (Either ‘the Deep State destroys America, or we destroy the Deep State.’ --Donald Trump)
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To: Albion Wilde

Yup!


82 posted on 08/22/2023 3:51:59 PM PDT by Mouton (US Home to one party rule)
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To: FLT-bird

“With the internet, you can locate your firm anywhere.”

Not quite anywhere. A dozen years ago, I worked for a small company that built hardware and software for stock trading companies (e.g., Goldman Sachs). Our claim to fame was low-latency streaming of stock quotes while guaranteeing preserving their order. The distances involved were relatively short, such as the NYSE floor to New Jersey.

Getting the quotes and sending the bids a few milliseconds sooner than competitors could make a real difference in profits. It was like on-line action games, but for lots of money.

Of course Internet speeds have much improved since then, but so have computer (and thus decision) speeds, so distance still matters somewhat.


83 posted on 08/22/2023 4:49:34 PM PDT by powerset
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