Blockbuster Lawsuit: Whistleblower Alleges Reuters Releases Data Early to HFT Clients

Submitted by Michael Krieger of Liberty Blitzkrieg

Very interesting, but unsurprising, allegations have surfaced in a lawsuit brought forth by former Thomson-Reuters employee Mark Rosenblum that alleges the company released sensitive economic data early to HFT (high frequency trading) clients.  Now this should come as no shock to anyone, considering it has become crystal clear that the entire economy is essentially simply one giant oligarch-run fraud that is designed to take the wealth and labor of 99.9% and funnel it all up to them.  This realization is a large drive behind the recent success of Bitcoin, as people are simply desperate to get free of the parasitic banking system at all costs.  From Reuters:

In the lawsuit, filed on Wednesday in Manhattan federal court, Mark Rosenblum said he was terminated after telling U.S. authorities that the Thomson Reuters/University of Michigan Surveys of Consumers was released at different times to different subscribers.

Rosenblum said in his court papers that Thomson Reuters releases the monthly survey to so-called “ultra low-latency” subscribers at two seconds before 9:55 a.m. ET, to “desktop” subscribers at 9:55 a.m., and to the general public at 10 a.m.

Read the rest here.

3 comments on “Blockbuster Lawsuit: Whistleblower Alleges Reuters Releases Data Early to HFT Clients
  1. Max Power says:

    According to at least some of the Internet, this university is a diploma mill.

    http://www.employeescreen.com/iqblog/university-of-michigan-a-diploma-mill/

  2. Mother Earth says:

    Well, I did research (for ABN AMRO) on machine learning algorithms for stock market prediction in 1994, actually visiting Reuters in the World Trade Center. It was clear you had tiered acces to information then. You pay to remove latency. Got my shoes shined on 5th Avenue..

  3. ???? says:

    Oh there is fraud, in an already fraudulent system? I can’t even pretend to be shocked about this story.

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