Note 96 — Chapter VIII · THE DAY ON ’CHANGE, WITH SUGGESTIONS FOR BEGINNERS

The celerity and accuracy of the cable service between New York and foreign centres, as perfected in arbitraging, has no parallel elsewhere. Twenty minutes are often required to complete a cable transaction between the London Stock Exchange and the Paris Bourse, and so it frequently happens, where speed is required, that messages between those two centres are cabled by way of New York.