Welcome back. We’ve often reported on High-Frequency Trading (HFT) stations licensed as experiments under FCC Part 5 rules. The new petition from Shortwave Modernization Coalition (SMC) seeks to permit non-experimental operation of such stations under Part 90 rules. Part 90 covers the business, safety and utilitarian uses of radio.
Experimental HFT stations transmit time-sensitive financial data between the U.S. and foreign exchanges. The petition reveals more about these ventures, though nothing about their individual strategies or message contents. Shortwave listeners have observed peculiar signals thought to be from these stations.