If traders are located 100 miles away from an exchange, they face a
delay of one millisecond whenever they seek to trade a price via their
computer screen. Few serious investors can afford to be that late to
prices that flash so quickly. The blink of a human eye takes 300
milliseconds; many traders now operate in the smaller realm of
Here is the longer story. I liked this bit:
Mr Greifeld said there might have to be measures to ensure speeds
within the co-location facilities were the same. “We might have to give
everybody the same length cable, believe it or not,” he said.
For the pointer I thank Christian Meyer.