Ever heard of a picosecond? It is one trillionth of a second and is shaping up as the final frontier for high-frequency traders in their relentless pursuit for speed, having already unlocked the ability to process data and trade in nanoseconds, or one billionth of a second.
For Morgan Potter, the Sydney-based founder of Nine Mile Financial, which is the only Australian-owned HFT firm, the race for a technological edge over foreign-owned rivals such as Susquehanna, Optiver, IMC Trading and Citadel is the mega nerd’s version of Formula 1 racing.
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