where are you cavalabs?, page-123

Yes, 1% was a bit of hyperbole (I see the irony) - but really given most people don't see the L3 book, the assumptions that are drawn, such as a single algo trading thousands of times in a minute to keep the price down, it's far from it. You can "lease" a GiC which is basically the network gateway link into the equity market - but you still need to BYO server to "talk" through it. You are even limited to how many actions you can take in a second. The rates are all set out on the ASX website, and of course you've got clearing fees on top. People imagine some cloak and dagger world of financial conspiracy and crazy Wolf of Wall St antics, really it's not like that.... although sometimes maybe ;-)