alt Hacker News> He points out that most trades are done in the last hour, so really trading only needs to occur once a day.
Presumably then the last trader has the most information, and so the game would be getting the info as late as possible and trading as late as possible, but not too late.
That's one thing that will make blockchain trading interesting as it's discreet block by block, such as the ex-dividend date who holds a stock when the dividends are paid, might make fees for that block very competitive. The SEC is really struggling now with good regulation but it's coming end of the year to draw the line in the sand.