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Somebody Stole 7 Milliseconds From the Federal Reserve
Posted By admin On September 25, 2013 @ 5:09 am In Money Watch | Comments Disabled
September 25, 2013
This is interesting, but I’m sure that these news based trades are being set up days in advance with much smaller volumes. Why am I sure? Because I look for insider buying before news on dogshit stocks before news, and if bum level executives/criminals are doing this with their penny stocks it’s not a stretch to assume that it’s happening on the confetti with better known names.
Confetti paper markets are a confidence trick . A scam. So, sure, this thing below makes for interesting reading but, hidden in the volume in the days before the news, there are trades being laid on by people who know what’s going to happen. Good luck spotting it, though.
Via: Mother Jones :
Last Wednesday, the Fed announced that it would not be tapering its bond buying program. This news was released at precisely 2 pm in Washington “as measured by the national atomic clock.” It takes 7 milliseconds for this information to get to Chicago. However, several huge orders that were based on the Fed’s decision were placed on Chicago exchanges 2-3 milliseconds after 2 pm. How did this happen?
CNBC has the story here, and the answer is: we don’t know. Reporters get the Fed release early, but they get it in a secure room and aren’t permitted to communicate with the outside world until precisely 2 pm. Still, maybe someone figured out a way to game the embargo. It would certainly be worth a ton of money.
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URLs in this post:
 cryptogon.com: http://www.cryptogon.com/?p=37089
 confidence trick: http://en.wikipedia.org/wiki/Confidence_trick
 Mother Jones: http://www.motherjones.com/kevin-drum/2013/09/somebody-stole-7-milliseconds-federal-reserve
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