3 ms·
It probably happens even more now than in the 1980s. The speed of communication outpaces the speed of government bureaucracy so it’s easy to take advantage of
by siruncledrew 5y ago
It probably happens even more now than in the 1980s.
The speed of communication outpaces the speed of government bureaucracy so it’s easy to take advantage of a technicality to make huge profits.
It’s like university exams when a friend in a morning class would take an exam and then tell others in the afternoon class about the questions and what to expect before taking the exam. The no guarantee the exams would be the say, but even if some questions overlap it makes a big difference.
In the case of university, I’m pretty sure this would be some kind of honor policy violation with repercussions if found out, and for Wall St it’s probably not even as tough as uni.
- throwaway81523 5y agoI think the above specific scenario doesn't happen now, because the info is uploaded at a specific time and broadcast instantly to any interested parties. So modulo some millisecond differences that only HFT bots can exploit, everyone gets the info at the same time.