While many are still blaming HFT for the flash crash and distorting the markets, Terpstra takes a pragmatic view.
FORBES: Meet The Google For High Frequency Trading Machines: Selerity
Terpstra just found them first forcing Microsoft to broadly release its numbers before the close of trading Thursday.
FORBES: How Selerity Got Microsoft's Earnings Early
Terpstra says its computers now looks for earnings releases from 700 publicly-traded companies.
Selerity alerted clients, who were able to buy gasoline futures contracts before the news spread widely and caused prices to soar, says Mr. Terpstra.
WSJ: In the Wired World, Feeds Drive Trading
Terpstra said as companies like Disney, NetApp, and Transocean have seen news released earlier than intended as a consequence of automated processes.
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