Economics @ ITT

Somebody Stole 7 Milliseconds From the Fed

Posted in economics by ittecon on September 25, 2013

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 Feds decision were placed on Chicago exchanges 2-3 milliseconds after 2 pm. How did this happen?

via Somebody Stole 7 Milliseconds From the Federal Reserve | Mother Jones.