> Nanosecond pricing updates might be a little more than anybody needs. This statement reveals that you do not understand what is happening when a transaction

> Nanosecond pricing updates might be a little more than anybody needs. This statement reveals that you do not understand what is happening when a transaction occurs. The price is simply the market clearing price. It is not as if updates are being published, simply that the correct price is being discovered more rapidly. If you think of the price erroneously as something that has been published, then of course there is nothing beneficial about speeding up the transaction turnaround time. But if you think of each transaction (and every participant willing to transact for close to the clearing price) as a vote that the price being transacted is close to accurate, then the more participants and volume available amount to significantly more information than was previously available. Imagine if trades were available only once per hour. Consider the kind of spread would a market making firm have to utilize to avoid losing money! Speeding up the market adds additional efficiency and reduces inventory risk for market making firms, increasing information and liquidity for all.