Re: [gnso-rap-dt] Front-Running

[George Kirikos <icann+rap@xxxxxxxx>]

Hi again,

Just to add a few more items in "point form" that I neglected:

- when does information become "public" -- when in zone file? effects
of fast/instantaneous propagation; some TLDs might not have "real
time" instantaneous registrations
- ability of registries to distribute/sell Rapid Zone Updates to to
customers, see for example VeriSign:

http://www.icann.org/en/registries/rsep/verisign-notice-22mar07.pdf
 http://www.icann.org/en/registries/rsep/  (#2007003)

- comparison with "flash trades" in the financial world, where some
market participants have superior access to information, perhaps
partially because they are colocated with the exchanges:

http://www.boston.com/business/articles/2009/08/05/sec_to_consider_ban_on_flash_trades/

where high-frequency trading is a growing percentage of the marketplace

- differences between the financial world (where there is an already
existing asset in a two-sided market, buying/selling where items are
fungible) and the domain name world (each domain is unique, imperfect
substitutes, and doesn't exist until it is "created" / registered)

Sincerely,

George Kirikos
416-588-0269
http://www.leap.com/