Hedge fund traders have been eavesdropping on the Bank of England’s press conferences before they have been officially broadcast, it has been reported.
One of the Bank’s suppliers has been leaking an audio feed of press conferences to high-speed traders, giving them the opportunity to act on Mark Carney’s comments before the rest of the world, The Times said.
Quite how high speed it was I’m not sure. Taking the audio feed directly might shave a second or two? Summat? Off the time it takes to get to the TV station, then be broadcast out, received? For I assume the press conferences are live and that live really is live. But then even live isn’t instant, is it?
Now, if someone wanted to be truly useful they’d hack into the bit where they draft the press releases…..