Engineered Simultaneity: The Physical Impossibility of Consolidated Price Discovery Across Spacelike-Separated Exchanges
arXiv:2602.22350v1 Announce Type: new Abstract: We introduce the concept of engineered simultaneity: a system design that (1) requires comparing events at spacelike-separated locations, (2) implements this comparison via an implicit simultaneity convention, and (3) represents the result as objective rather than conventional. The United States National Best Bid and Offer (NBBO), mandated by SEC Regulation NMS Rule 611, is shown to be an instance of engineered simultaneity. We prove that the NBBO is frame-dependent: its value depends on […]