Speed Traders Team Up in Microwave-Tower Superhighway Plan
This article is for subscribers only.
Two key competitors in the technological arms race that’s driving financial markets ever closer to light speed have called a truce.
KCG Holdings Inc., a brokerage with roots in high-frequency trading, and World Class Wireless LLC will unite their networks of microwave towers, connecting major market centers around the globe, according to a statement released last month. WCW, which is owned by ECW Wireless, has the same address and senior managers as high-frequency trader Jump Trading LLC. A representative for Jump said the firm declined to comment.