easy · Market Microstructure

A High-Frequency Trading (HFT) firm uses microwave links to receive a price change from the NYSE and submits a buy order to the BATS exchange 100 microseconds before BATS's local quotes update. This strategy is an example of:

  1. Front-Running
  2. Latency Arbitrage
  3. Quote Stuffing
  4. Statistical Arbitrage

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