Happens all the time. ASX allows HFT to install their servers next to the ASX servers and gain a micro second advantage, for a fee of course!
The real advantage is to get the data before it hits the ASX or the major news feeds. The data has to be transmitted to the exchanges / news consolidators and trapping said data early is the big game in town.
Even in the days of the telegraph, and before that when physical paperwork was delivered, there have been those who tried and get early data. Just faster these days as we deal in micro seconds.
The IT spend with HFT is enormous - processing power, networks, routers, algorithms (software) etc can run to millions of $ for the big end of town. If one can recode the software to be 3 micro seconds faster than one's competitors then the rewards can be huge. Creates a lot on highly paid employment for the IT fraternity.
The War of the Software Experts.
The average punter has no chance, apart from solid research in an attempt to second guess the data. Or stay away from the highly traded stocks where the HFT dudes make their money. If trade is thin then there is less opportunity for the HFT traders to make a sufficient return on their huge investments.
All IMO.
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