This is called “arbitrage”. It takes millions and billions of dollars to play this game. Keep in mind that the majority of back-end clearing and settlement of

This is called “arbitrage”. It takes millions and billions of dollars to play this game. Keep in mind that the majority of back-end clearing and settlement of trades in Europe is done by Euroclear [0], who reported over 27 Trillion Euros of assets under management in 2015. In the US, virtually all back-end clearing and settlement is handled by DTCC [1], who reported handling over 1.7 Quadrillion dollars worth of value in 2011. That’s the scale of the market you’re playing in when you first pretend to arbitrage. [0]: https://en.wikipedia.org/wiki/Euroclear https://en.wikipedia.org/wiki/Euroclear [1]: https://en.wikipedia.org/wiki/Depository_Trust_%26_Clearing_Corporation https://en.wikipedia.org/wiki/Depository_Trust_%26_Clearing_...