I'm in the middle of the book. Point 10, "Without co-location, the investors will fight for the spaces close to the exchange -- across the street, a block away,

I'm in the middle of the book. Point 10, "Without co-location, the investors will fight for the spaces close to the exchange -- across the street, a block away, 2 blocks away, etc.", seems to my unsophisticated reading to be already directly addressed: 63.36%: "The NYSE had ... built this 4000,000-square-foot fortress in the middle of nowhere ... the moment they announced their plans HFT firms began to buy up land surrounding the fort ... the NYSE somehow persuaded the SEC to let them make a rule for themselves: Any banks or brokers or HFT firms that did not buy space inside the fort would be allowed to connect to the NYSE in or of two places: Newark, New Jersey, or Manhattan. The time required to move a signal ... undermined HFT strategies ... "There was a precedent: They'd let NYSE do it,"..." So to my unsophisticated eye, this sophisticated reviewer is blowing a bit of smoke. Not all smoke, but a bit of it at least.