Business Wire Halts Direct Feeds to High-Speed Traders
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Business Wire, the distributor of press releases owned by Warren Buffett’s Berkshire Hathaway Inc., will stop letting high-speed trading firms purchase direct access to its service.
After consulting with Buffett, a billionaire known for holding onto investments for decades, Business Wire decided to avoid the reputational hit from an association with high-frequency traders, who often enter and exit positions in less than a second.