Plans are tower to transmit microwaves to continental Europe to accelerate the financial transactions of milliseconds The new tower will be higher than The Shard, the tallest building in Europe.
Will immediately send financial data to the London financial centers in Europe to promote "high frequency trading", a controversial technology used by large investment banks and hedge funds to buy and sell assets for a blink of an eye.
Ultra rapid trade is blamed for increasing market volatility since the financial crisis, which critics say contributed to the notorious "flash crash" in May 2010, when the Dow Jones lost almost 1,000 points in minutes.
Speed has become so important for high frequency trading that even the type of optical cables for data transmission can make a huge difference. For HFT milliseconds mean millions.
HFT been blamed as a major factor that contributes to the "Flash Crash", when hundreds of billions of dollars are erased from the US stock market in minutes
Critics say high-frequency transactions provide for large institutional investors an unfair advantage.
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