It also suggests a role for new marketplaces that facilitate the spot trading of insight, and deal room services that allow for private information brokering.

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The Hildebrands' trading came to light because an employee at his private bank leaked the information.

ECONOMIST: The Swiss National Bank

By 1873, brokers were leasing private telegraph lines to provide customers and, presumably, themselves with faster information and trading.

WSJ: New Twist Is Added to an Age-Old Saga