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The Market Ticker – Glitch Eh? Uh huh….

Tuesday, February 13, 2018 5:17
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It’s just a “glitch”, you see….

Five years ago, the world’s largest exchange operator vowed to fix a flaw in its systems that allowed high-speed traders to infer the direction of the futures market a fraction of a second before everyone else.

Now, the defect is back at CME Group Inc., traders say. And some allege it is yielding rich profits for ultrafast firms at the expense of ordinary investors.

The problem arises from the two ways that CME distributes information about a trade. One is the private confirmation messages that the exchange sends to the buyer and seller in each transaction. The other is the public data feed that reports trades to everyone active at CME, a Chicago exchange where an average of 19 million contracts changed hands daily in January.


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