These are the highlighted "high quote bursts" because they exceed a 10,000 quote threshold. The NYSE sequence took the shortest to run, 3 seconds, while each of the other sequences ran for 5 seconds.
- 14:38:29 DIS - PACF exchange - 11,132 Quotes and 1,468 Trades
- 14:38:30 DIS - NYSE exchange - 11,433 Quotes and 1,320 Trades
- 14:38:32 DIS - BATS exchange - 15,656 Quotes and 1,702 Trades
- 14:38:32 DIS - BATY exchange - 16,127 Quotes and 1,693 Trades
Here we see a HFT Alert Pro graphic which chart the exchanges in which the 4 trades highlight above were identified on.
And that is how you latency-arbitrage a news release with your co-located, computer and algorithm driven, trading mechanism.