You are correct, it's either point-to-point, like direct cross-connects with the exchange or it's a relatively small intranet. Additionally, an overwhelming maj

You are correct, it's either point-to-point, like direct cross-connects with the exchange or it's a relatively small intranet. Additionally, an overwhelming majority of packets flying around are market data. You don't want to re-transmit lost ones because by the time you do, the data is already outdated.