There is a Secret $300 Million Cable Between New York and Chicago
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They say that time is money and nowhere is this more true than in the stock market. But what does this have to do with a secret cable you may ask?
Well, let's take it from the beginning. The internet today functions with the speed of 1 foot (or 30 cm) per nanosecond meaning it is really really fast but not instantaneous.
In the United States, the market for futures exists mainly in Chicago. A future is like a stock: it is a promise that you may get a certain stock in the future for a set price.
However, most stocks sell in New York. This means that when a price changes in New York it takes a few milliseconds for that information to travel to Chicago, especially since the cable connecting Chicago to New York was not a direct route.
That's where Dan Spivey of Spread Networks saw an opportunity to make money off of price changes by connecting a direct cable from Chicago to New York that would be faster than the already existing one.
This cost him a whopping $300 million dollars and was done in secret as not to alert his competitors. Find out more above this super expensive cable in this video.
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