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Somebody Stole 7 Milliseconds From the Federal Reserve
An anonymous reader writes "Three to seven milliseconds before the fed moved interest rates, billions of dollars of trades were input that took advantage of the changed rates, reaping huge profits. According to a report at Mother Jones, 'Last Wednesday, the Fed announced that it would not be tapering its bond buying program. This news was released at precisely 2 pm in Washington 'as measured by the national atomic clock.' It takes 7 milliseconds for this information to get to Chicago. However, several huge orders that were based on the Fed's decision were placed on Chicago exchanges 2-3 milliseconds after 2 pm. How did this happen?'"
Looks like you picked the wrong week to stop sniffing glue.
Get thee glass eyes, and, like a scurvy politician, seem to see things thou dost not.--King Lear
Or why it is framed as 'banks break physics' rather than 'someone talked and then fraud happened'.
they STILL didn't get first post, did they?
I'm pretty sure it was Billie Ray Valentine and Louis Winthorpe. They did this previously and managed to bankrupt Mortimer and Randolph Duke in the commodities market.
The world is made by those who show up for the job.
I'm pretty sure it was a speed of light violation. We should announce to the rest of the world this marvelous discovery.
Perhaps this is evidence that the Higgs is getting more subtle.
And a lot richer.
We need a "+1 -- nice sig" moderation.
What if there was a guy named Beeks that had the report in his briefcase and traveled to the exchange in advance of the public announcement, and there were 2 men and a woman that intercepted the report and used it to their advantage while swapping it with a fake report which was given to the original people?
I can only hope the responsible investors are properly ticketed and fined. What a glorious and historic $75 that will be.
When did we start talking about airport security?
Check out my sci-fi/humor trilogy at PatriotsBooks.
If a packet leaves Chicago heading east and a packet leaves New York at the same time, which state will they meet at?
If Comcast is doing the routing, Oregon.
"Think about how stupid the average person is. Now, realise that half of them are dumber than that." - George Carlin
Feeling good, Louis!
Feeling good, Louis!
Get thee glass eyes, and, like a scurvy politician, seem to see things thou dost not.--King Lear
Which of you stole 7ms to post at exactly the same time as the other?
Sorry, couldn't resist... :)
-The wise argue that there are few absolutes, the fool argues that there are no probabilities.