I believe the current SOTA is to submit trades in the order of 10ms after the document is available online. In that time they downloaded the file, ran sentiment

I believe the current SOTA is to submit trades in the order of 10ms after the document is available online. In that time they downloaded the file, ran sentiment analysis on it and ran the numbers, decided which way to go and sent the trades to the market. It's worth every penny to be first, but unless you have a lot of pennies, you won't be first.