Jul
02
Wall Street Is Sharpening Our Nanoseconds
ByIf people want to trade stocks every hundredth of a nanosecond, why not let them?
Let’s say you and I both want to buy 100 shares of Microsoft Corp. stock. Let’s say that 100 shares are currently listed for sale on the exchange at $100. There are more shares listed for sale at $100.01, $100.02, etc., but the first 100 shares are all that are available at $100.00. We both think the stock will go up, so whoever doesn’t get the 100 shares listed at $100 will have to spend more—at least $100.01—to buy them. Which one of us should get the shares?…
