“Could the next big trading glitch come from the sky? An expert in satellite technology says it’s possible, and he wants more traders and investors to be aware of the potential problem. The danger lies with the global positioning satellite system, according to Todd Humphreys, a professor of aerospace engineering and engineering mechanics at the University of Texas at Austin. High frequency traders depend on GPS technology for accurate time signals to guide their trading strategies, but the satellite system’s rooftop receivers are vulnerable to jamming, he contends. GPS signals can also become the target of hacking attacks, known as “spoofing,” that can send out false time signals and disrupt trading, he adds.”
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