Balloons, drones and low earth-orbiting satellites – these could be the next weapons in the battle to squeeze every last microsecond out of a trade execution. Hugh Cumberland, a solution manager at connectivity provider Colt, said: “It may sound like science fiction. But if the prize is high enough, someone may make it work.”

For years, high-frequency traders employing statistically driven speed-sensitive strategies have been pushing for ever-faster trading connectivity. Microwave lines are the latest innovation in the space. Information travels through air some 35% to 50% faster than through a fibre-optic line and some of the world's most important trading routes - including Basildon to Frankfurt and New York to Chicago - are now well-served by microwave networks.