By Olivia Solon
GPS "spoofers" -- devices that create false GPS signals to fool receivers into thinking that they are at a different location or different time -- could be used to defraud financial institutions, according to Todd Humphreys from the University of Texas.
On an innocuous level, GPS spoofing can lead to the confusing of in-car GPS systems so that users think they are in a different location to their actual location. However, a more sinister use could be to interfere with the time-stamping systems used in high frequency trading.
Financial institutions depend on timing that is accurate to the microsecond on a global scale so that stock exchanges in, say, London and New York are perfectly synchronised. One of the main ways of doing this is through GPS, and major financial institutions will have a GPS antenna on their main buildings. "They are always visible because they need a clear view of the sky," Humphreys told Wired.co.uk.
texas, new york, london, university of texas, wired.co.uk, time-stamping systems, gps, todd humphreys, technology, navigation, satellite navigation systems, wireless, radio navigation, aerospace engineering, global positioning system, gps signals
News: Cielo Networks, Inc. Announces SkyLink CGX -- The World's First Commercial Microwave Radio IDU Designed Exclusively for Use in Extremely Low Latency Trading Network Applications
426 days ago,(2013/07/19) - Cielo Networks, Inc.
The successor to the market leading SkyLink CG microwave radio modem, SkyLink CGX sets new benchmarks for extreme low latency transmission performance and integrated end to...
News: CFN Services Further Accelerates its UltraFast™ Market Data with Microwave Network Acquisition
8 days ago,(2014/09/10) - CFN Services
New Solution Broadens Access to Real-time Market Data at Wireless Speeds, Making Dedicated Fiber Connections Obsolete between New York and Chicago CHICAGO, IL and NEW...
News: LMAX Exchange ranked UK's fastest growing technology firm in the 2014 Sunday Times Hiscox Tech Track 100
10 days ago,(2014/09/08) - LMAX
London, 7 September 2014 - LMAX Exchange has been ranked No.1 overall in the Sunday Times Tech Track 100 league table, eclipsing its 2013 ranking of 15th, with a remarkab...
27 days ago,(2014/08/22) - Perseus Telecom
All asset class network and High Precision Time™ for Interest Rate Swap Futures goes live Chicago, IL and New York, NY – 21 August, 2014 - Perseus Te...
News: Altera and Lime Microsystems Team Up to Accelerate and Simplify the Development of Wireless Networks
93 days ago,(2014/06/17) - Altera
• Strategic Cooperation Agreement to yield combined programmable RF and FPGA solutions and joint marketing, sales, and technical support activities w...