[dumah]

That’s irrelevant to the fact that the expected PnL on a millisecond of latency improvement is a lot more than 1M in some markets. Obviously if you are getting what ever trade you are concerned with off in less than one millisecond, the question isn’t well posed.

There are many more games to play than delta one takeout and the solutions certainly don’t fit on one or a handful of FPGA’s.