on the move, page-55

My belief is a (ro)Bot is a 'server equivalent' (computer that is) which is installed in the same space as the servers of the exchange and are connected directly to the exchange via what they call pipes (probably fibre optics). These 'servers have their own s'ware and can 'intercept' large volume transaction orders and make purchases/sales before these large orders hit and then sell/buy making sometimes only fractions of cents but usually on large volumes. They are prevalent in bigger bourses and run by larger trading houses obviously with the knowledge of the exchange. (the exchange gets a fee for allowing them in) In doing this we all become manipulated.
Can't remember the link... If I can find it I'll post it