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Thomson Reuters proves that membership has its privileges

File photo of a plaque featuring the logo for Thomson Reuters company in Paris.

JACKY NAEGELEN/REUTERS

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Here's a hot stock tip
In the unlikely event that there still exists a group of ordinary investors who aren't convinced the markets are rigged in favour of the rich and powerful, a report by CNBC should do the trick.

It seems that the University of Michigan's market-moving consumer confidence numbers are provided to Thomson Reuters, which in turn sells the data under contract to an elite (and deep pocketed) group of traders two seconds before its official release.

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Dubbed the "ultra-low latency distribution platform," the data is provided in a specialized format for algorithmic trading at 9:54:58.000, which is an eternity for high-frequency traders.

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Wanted: experienced banker untainted by the industry's scandals who has the skill to deal with a large and meddlesome shareholder, the government. Please contact the Royal Bank of Scotland for more details.

The rise and fall of high-frequency trading
Once a boon to those with the fastest computers, competition and regulation have squeezed profits and sent many firms in search of greener pastures.

Junior energy in survival mode
With scarce capital and low energy prices, juniors are cutting costs and selling assets.

(Jody White is the Web Editor for Streetwise.)

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