HF trading link '120 Hz FMCW idle tone'
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|---|---|
| Frequencies | 19.31 MHz,20.24 MHz,20.548 MHz | 
| Frequency Range | 19.31 MHz - 20.548 MHz | 
| Mode | USB | 
| Modulation | OFDM | 
| ACF | — | 
| Emission Designator | — | 
| Bandwidth | 10 kHz,9 kHz | 
| Location | Canada / Worldwide | 
| Short Description | A HF trading link in idle state which strongly resembles an FMCW radar with 120 Hz sweep rate. Has been observed to transmit CW ID once per hour. | 
| I/Q Raw Recording | Download file | 
| Audio Sample | |
This signal is likely believed to be a high-frequency trading link in idle state. It very strongly resembles an FMCW radar, transmitting a linear upwards FMCW signal with 120 HzHertz (Hz), unit of frequency, defined as one cycle per second (1 Hz). frequency, but a Morse code (CWContinuous Wave) ID has been heard, belonging to a HFT station in Canada. Bandwidth is about 9 kHzKiloHertz (kHz) 10^3 Hz to 10 kHzKiloHertz (kHz) 10^3 Hz. The signal may have been seen using 240 HzHertz (Hz), unit of frequency, defined as one cycle per second (1 Hz). / 20 kHzKiloHertz (kHz) 10^3 Hz too, but this has not been confirmed. 
Actual data transmission of this type has not been observed. 
High-frequency trading is a form of automated stock trading in which large numbers of transactions are performed at high speeds, in time scales ranging from seconds to fractions of a second. To minimize latency, some HFHigh Frequency (3-30 MHz) traders have investigated the possibility of using shortwave radio to relay trading commands and information.
Samples[edit]
USBUpper Side Band Modulation (Radio, referring to reception and modulation mode)Universal Serial Bus (Computer, referring to USB Ports and cables) sampleFMFrequency Modulation sample
Frequencies[edit]
This has been observed on the following frequencies: 
- 19311 kHzKiloHertz (kHz) 10^3 Hz
 
- 20244 kHzKiloHertz (kHz) 10^3 Hz
 
- 20548 kHzKiloHertz (kHz) 10^3 Hz
 
- 18350 kHzKiloHertz (kHz) 10^3 Hz (?)
 
- 20200 kHzKiloHertz (kHz) 10^3 Hz (Variant)
 
- 19470 kHzKiloHertz (kHz) 10^3 Hz (Variant)
 
Possible Variants[edit]
These signals may be related:
|  FMCW freq = 96Hz, BW=2.7kHz  USBUpper Side Band Modulation (Radio, referring to reception and modulation mode)Universal Serial Bus (Computer, referring to USB Ports and cables)/NFMNarrowband Frequency Modulation (Tx freq = 20.2MHz)  | 
 FMCW freq = 240Hz, BW=20kHz  USBUpper Side Band Modulation (Radio, referring to reception and modulation mode)Universal Serial Bus (Computer, referring to USB Ports and cables)/NFMNarrowband Frequency Modulation (Tx freq = 19.47MHz)  | 
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