HFT trading radio towers defeated by local council in UK

Section:

Dover Council Rejects Bid by High-Frequency Trading Firms
to Build Two Radio Masts Taller than the Eiffel Tower

By Rachel Millard
Daily Mail, London
Friday, January 27, 2017

Flash traders have had their bid to build a giant telecoms mast on the Kent coast turned down by councillors.

Dover District Council rejected the bid by two secretive American high-frequency trading firms to build two masts taller than the Eiffel Tower, which is 1,063 feet high to its tip.

Vigilant Global -- which is owned by Chicago trading firm DRW -- and New Line Networks -- which is part owned by New York firm Jump Trading -- wanted to each build a radio mast in Richborough, north of Sandwich, to increase trading speeds between London and Frankfurt.

... Dispatch continues below ...



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Friday, January 27, 2017

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The masts hold satellite dishes that can pick up microwave signals that update the traders on the latest stock prices. These masts are utilised by high-frequency traders who use powerful computers to trade huge volumes at high speeds.

Information sent by microwave signals are quicker than cables, which run along the ground, by fractions of a second. But this minuscule bit of extra speed enables the traders to make money by buying and selling ahead of their rivals. ...

... For the remainder of the report:

http://www.dailymail.co.uk/money/article-4165760/Flash-boys-defeated-1-0...

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