Early leak of Fed's 'no tapering' decision?
Citing unusual market patterns, Nanex CEO Eric Hunsader, whose firm supplies market data to the financial industry, said nearly $800 million worth of futures contracts traded in Chicago about 7 milliseconds before the 2 p.m. release time of the Fed's Open Market Committee decision last Wednesday.
In a report about the unusual trading, Hunsader asked, "How many computers had access to this information? Who had access to those computers?" He also asked why a Fed lock-up room, where information is distributed early to reporters who must agree not to transmit the information until the official release time, apparently failed to thwart the apparent premature transmission.
Markets soared once the Fed's decision was made public, driving the Dow Jones industrial average and the Standard & Poor's 500 index to all-time highs when the trading day ended.
Read More: www.usatoday.com/story/money/business/2013/09/24/federal-reserve-taper-leak/2861669/