Somebody stole 7 milliseconds from the Federal ReserveSubmitted by egapele on Wed, 09/25/2013 - 10:19
Somebody Stole 7 Milliseconds From the Federal Reserve
—By Kevin Drum
Tue Sep. 24, 2013 12:20 PM PDT119.
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?