Thomas Peterfry and his engineers hacked into the NASDAQ terminal and wired it up to their own computer, which traded automatically based on algorithms.
A senior NASDAQ official saw Peterffy’s setup and said Peterffy was breaking the rules: All orders had to be entered through the keyboard. He gave Petterfy’s group one week to fix the problem.
Peterffy and his engineers came up with a solution. They built a robot with rubber fingers that typed entries into the keyboard. It satisfied the NASDAQ rules. And on active trading days, the robot typed so fast it sounded like a machine gun.