My step great grandmother is currently the oldest in the UK, the family had to take her car keys off her when she turned 100, she wasn’t best pleased about it.
It’s a shame it’s probably going to take another 10 years before any of the banks actually migrate to ISO20022 (if it ever happens) SwiftMT conversion software is currently the big sell so they don’t have to rewrite / build everything they already have.
The delay is 1s for placing bets inplay on racing, you are correct in regards to zero delay on cancellations. The advantage is simply down to latency and being ahead of everyone (except GPS users) in an event where probabilities move very fast. A lot (maybe the majority) is liquidity provided by automated systems or ’keep’ bets placed before the race where the user has no intention to cancel.
I use yara for real time screening in Django rest and it’s super fast and easy, Airbnb open sourced binary alert which is a cool serverless implementation.
“In June 1942, after shooting down a Spitfire, a Luftwaffe pilot named Armin Faber landed his Fw 190A-3 at RAF Pembrey in Wales (believing it to be France). Because of an unfortunate inability to distinguish the Bristol Channel from the English Channel said Armin let his plane get into the grubby hands of the RAF, with barely a scratch. Given its total superiority to any Allied fighter then in service, this unexpected gift was insanely valuable to the technical experts of the RAF. In fact, so desperate were the British to get their hands on one that a Commando raid had been planned to steal an Fw 190 from a French airfield.”