This is a pretty interesting article. Apparently some guys from MIT realized that you might be able to exploit network latency on the markets by picking and choosing where you connected to, assisted a bit by geography.
This is pretty much the exact same thing that was being done in the IRC wars of the 90's, with clonebot connections and nick collisions instead of money.
I wonder, does ChAoS count as prior art? ;)
Turning network latency directly into money?