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One such fast "pipe" for quicker trading allows the NYSE to charge hedge funds $40,000 a month – each!
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"Shorter distances make for quicker trades, and microseconds can mean millions of dollars made or lost".
The Russian prime minister, Vladimir Putin, last week predicted that the route would soon rival the Suez canal as a quicker trade link from Europe to Asia.
But some in Washington wonder if ordinary investors will pay a price for this sort of lightning-quick trading.
Plenty think the widespread use of automated, lightning-quick trading algorithms made matters worse, at the very least.
Many inside and outside the firm came to blame its hard-charging investment bankers for emphasising quick trading profits over long-term relationships with clients.
He added that Island customers will have access to multiple markets and Instinet customers will have use of the quickest trading venue available.
At the time, the firm was struggling to compete in a market that preferred quick trading tips to the long, thoughtful research reports that are Bernstein's trademark.
The case has the hallmarks of insider trading seen in recent cases: disclosure of sensitive corporate information about an impending transaction and quick trading by a hedge fund in response to it.
Enron, employing a variety of trading schemes known by such names as Death Star, Fat Boy and Get Shorty, tried to "game" the state's power grid to make quick trading profits, according to internal company documents.
And the commission will probably adopt a measure requiring mutual funds to spell out their policies on certain kinds of quick trading, or market timing, and strong compliance programs, including a chief compliance officer, for the funds.
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CEO of Professional Science Editing for Scientists @ prosciediting.com