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HFT trading radio towers defeated by local council in UK

Section: Daily Dispatches

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 ...


K92 Mining Drills Multiple High-Grade Gold Intersections

Company Announcement
Friday, January 27, 2017

K92 Mining Inc. (TSXV–KNT) announces the latest results from the ongoing grade control drilling program at its high-grade Kainantu Gold Mine in Papua New Guinea. K92 is ramping up the Kainantu gold mine toward commercial production, with its longest continuous production run to date now commenced.

In September 2016 K92 began a campaign of close-spaced underground diamond drilling as part of a comprehensive grade-control strategy. The current grade-control drilling program is focused on the areas of Irumafimpa and is designed to bring a high degree of confidence to the production planning and scheduling. K92 plans to mine this area in the coming six months. The closed-space drilling pattern of approximately 15 metres by 15 meters has significantly increased the confidence in this sparsely drilled area, with most holes recording high-grade intersections. Approximately 80 percent of the holes completed to date have recorded multiple high-grade intersections indicating the presence of multiple parallel to sub parallel high-grade veins. ...

... For the remainder of the announcement:

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:

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