A small group of financial trading firms are underwriting the cost of laying a private fiber-optic line connecting New York and London's financial markets.
The cost? $300,000,000 (Three hundred MILLION dollars).
These owner/firms will have exclusive use of the new cable and expect to make millions of dollars per transaction by having their trade sales arrive FIVE MILLISECONDS before their competitors.
For those of you have forgotten how long a millisecond is in these days of big numbers where we think in nano-seconds ...... One Millisecond is 1/1000 (one thousandth of a second)
Thus, ergo... and as a result - these trading firms are investing $60 Million per millisecond in time savings on their trades..... Those old fashioned satellite transmissions are so slow and old fashioned don'tcha know!!
I reckon they wouldn't care to invest in the US Postal System...... or those copper cables laid back in 1858 -- through which a message took 17 hours to transmit.
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