Merrill Lynch
Trading in the blink of an eye
What happened?
A graduate who had been working for Merrill Lynch for two years started thinking about how to speed up the reaction time when trading in bonds. Being a bit of a whiz on computers, he came up with a clever system that approximated the real price of the bonds. The system used a way of working out the price that wasn´t quite accurate but was much faster - and close enough not to make any real difference.
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