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Lasers speed up New York share trades

Mike Persico discusses his firm's plans to introduce laser beam connectivity between the New York Stock Exchange and Nasdaq.

"Laser beam" technology is being introduced to shave time off financial trading, Mike Persico, chief executive of Anova Technologies, has said.

Speaking to the Today programme, Mr Persico explained his firm's plans to install laser beam connectivity between the New York Stock Exchange and Nasdaq so that information on share prices can be sent between the two in "half" the time it currently takes via fibre-optic cables.

First broadcast on BBC Radio 4's Today programme on Tuesday 4 March.