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In the past, placing a single trade took hours or even days, and the Internet as we know it today did not exist. At that
The U.S. stock market is rigged, with elite traders buying access to a high-speed network that allows them to figure out what you've just ordered, order it first, then raise the price before your order is complete.
"The insiders are able to move faster than you," Lewis said on "60 Minutes" on Sunday night. "They're able to see your order
Automated program trading, which allows traders to peek at incoming orders, explains how Goldman's trading division earned at least $100 million per day on 116 out of 194 days last year.