Observing News Propagation

written by: Stéphane Tyc and Imad-Eddine Srairi

Abstract

Large and sudden changes in prices in broad market indices reflect the release of macro
news. The detailed observation of the times of these moves can provide lower bounds for
the time of transmission of information between data centres. We have studied one macro
events and provide our findings. The propagation of news on land in the United States is
well explained by optimised microwave networks. The propagation of news to Europe is
consistent with the fastest known transatlantic fibre cables at the time.

Download the complete paper