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In many places for HFT the comparison is against microwave links though not standard fiber.


Indeed, and I mention microwave links in the paper linked above. But those are relatively short distance: New York - Chicago, London-Frankfurt, and similar. Where Starlink and Kuiper can provide real latency benefits is on long distance paths, trans-oceanic, or passing over countries where it's geographically or politically infeasible to built microwave links.




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