The easiest way to fix this would be to say (in an extreme case) trades can only happen on 4 hour boundaries (time to get from the sun to neptune). So as long

The easiest way to fix this would be to say (in an extreme case) trades can only happen on 4 hour boundaries (time to get from the sun to neptune). So as long as news is released early in the period, then everyone has plenty of time to receive the information. Again assuming you're talking about planetary scale within the same solar system. If you're talking about within the US or on earth, you simply give a buffer for speed of light to transit across the us and "very sufficient" time for computation/calculation. There will always be some delta. Ie a company near wall st had 5mins minus 1 millisecond to calculate, while a company in california had 5 mins minus 100 milliseconds to calculate. But if they have 5 mins to digest and calculate the news, the difference those few milliseconds make isn't really important anymore. Investing should prioritize making the correct decision over making the faster decision. Right now, too much of profit is simply being able to make the faster decision. It's like playing an RTS against and AI with horrible strategy but has APM through the roof. Yes they're winning, but it's not really interesting or beneficial insights it's providing. But if you have a strategy that can win with only 10 APM you must've come up with something really deep and insightful about the game.