How Professional Trader,s Cheat

Did you know third-party like Business Wire sells hedge funds an early, albeit split-second, look at corporate earnings, before retail traders see it ?
it’s perfectly legal.

The University of Michigan, for example, sells the rights to its Survey of Consumers to Reuters for $1 million a year. Reuters then sells early access to it either five minutes before the public gets it or five minutes and two second before—for the HFT crowd that wants to frontrun the frontrunners.

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