how quants made billions using this cheese strategy (and how the CME stopped them)

In this video I go over how quant devs and quant traders used a cheese strategy to make billions off the CME (Chicago Mercantile Exchange) and ensure they can react to events before they actually happened. This strategy is discussed in detail in a public patent buried in the deep crevices of the internet. I break down the technical details in a way that even the average goldfish could undersatnd. All this information is synthesized from this publicly available patent: https://patents.google.com/patent/US20180183901A1/en?oq=20180183901 CME Patch Details: https://www.cmegroup.com/confluence/display/EPICSANDBOX/CME+Globex+Market+Segment+Gateway+Safeguards#:~:text=When%20the%20MSGW%20receives%20a,protect%20message%20sequence%20number%20integrity. Instagram: https://www.instagram.com/thecodingjesus/ Calendly (1-on-1 with me): https://calendly.com/coding-jesus Patreon: https://www.patreon.com/codingjesus Email: [email protected] Smash the Quant Trader Interview: https://www.quantguide.io/codingjesus 00:00 Intro 00:35 what is a cheese strategy? 02:05 osi model 03:25 tcp properties 05:35 how devs weaponized in trading 13:20 how the cme patched it 15:40 outro