Pssst…Want to buy a watch?
I don’t have one for sale, though we know some folks that are peaceful to sell you… well, it’s not a watch, though it’s something much, most better. They’ll sell we time.
You wish to buy some Time?
Turns out, and who knew, we can buy time. You, approbation you, can buy a few seconds for a whole garland of money. High magnitude trade outfits and apparently tons of other “traders” and “investors” are shopping this time. You can, too.
For a “Fistful of Dollars,” what we get is a few seconds conduct start on meaningful some really critical mercantile information points.
It’s extraordinary what income can buy.
Forget integrity, it’s not for sale since it’s out of stock. But if we wish to buy a University of Michigan’s rarely regarded and market-moving news on consumer confidence, we can get it, right alongside a “investors” like a HFT boys and girls who compensate a University to get a numbers dual seconds before a rest of a universe sees them.
Or we can hack adult subsequent to a same throng that buys a Institute for Supply Management’s production index numbers before a universe sees them.
It’s not insider trading. It’s totally legal.
I’M NOT KIDDING.
Just yesterday, out of left margin comes this explanation that for some time folks peaceful to compensate to get market-moving information from private, non-governmental sources, sources that we all rest on, that we all suspicion were providing critical (equal access) mercantile information points, have been removing that market-moving information before we all see it.
And they are creation a ton of income front using all of us.
Apparently, offered entrance is “routine,” according to some sellers. Besides a common creeps utilizing a markets for their possess bottom lines, Thomson Reuters is also shopping information points from these sources and charging their news-feed business a fat reward to get it upheld along to them.
Hey, wanna buy some Time?
I’M NOT KIDDING.
Honestly, we didn’t know. we had no idea. For heaven’s sake, if I’d known, I’d have gladly paid to benefit a few seconds for a few hundred million dollars. we can means it.
The law is, I’m blissful this came out. I’ve had my eye on this Russian’s mega-yacht (the owners is building a new 1000-foot model), and with a additional time we can buy I’m going to make an offer. It competence take me a few months of removing a information forward of a fasten to position myself to make those mega-millions, though that other boat won’t be prepared until a Baltic Dry Index hits it support levels.
Like a aged observant goes, if we can’t kick ‘em, join ‘em. And, damn it, we wish to join that large yacht club. Besides, it will demeanour good anchored off my place in a Hamptons.
I’d contend some-more about a whole affair, though we have to go. I’m arranging a thank-you lunch and carrying a SEC, all of those heavenly folks, over to appreciate them for their munificence in permitting a finish bastardization of “fair and orderly” markets.
While I’m during it, maybe I’ll ask a folks during a SEC how most it costs to buy their firmness to concede this “event jumping” or “news feed trading,” as it’s called by a long-time practitioners.
Well, that’s it, we gotta go. Got a small luncheon and gift auction I’m putting on for a SEC. God magnify American regulatory entrepreneurialism! That they can be bought is a pleasing thing.