arbitrage---Taking advantage of the difference in
prices across exchanges in different geographical areas and time zones with different
regulations and types of money. It should be
noted that the timing of electronic information flow may not be based so much
on physical distance between two points but by the types of computers and
electronic equipment along the way, as it were. Legend has it that information on
the east coast of the US can travel quicker to London than to other parts of
the US. And it is also worth mentioning that global virtual currencies are also
now part of the picture, once again, lessening the impact of physical distance.