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?'"

Comments

wrong two words

[stenvar]

Obama administration.

Yes, sleazy corporations may be taking advantage of this, but ultimately it's the administration that is responsible for leaking this information.