The internet "heartbeat" is simply an opportunity in time to do / not do a computational task. The Heartbeat sets START / STOP and TIME TO LIVE. i.e, stock market flash trade session.  All sophisticated algorithms, bots, mots, scripts, agents.. make make use of the heartbeat -- opportunities, intervals, windows in time.  High frequency flash trade algorithms are sophisticated and distributed -- however, all algorithms report to a single master controller. Heartbeat = start bit / stop bit, Time To Live = algorithm on / algorithm off / algorithm duration. The World Economic Forum cited a need for a "flash trade circuit breaker". 

FIX 5.0 : Heartbeat <0> message

Structure | Related Messages


The Heartbeat monitors the status of the communication link and identifies when the last of a string of messages was not received.

When either end of a FIX connection has not sent any data for [HeartBtInt] seconds, it will transmit a Heartbeat message. When either end of the connection has not received any data for (HeartBtInt + "some reasonable transmission time") seconds, it will transmit a Test Request message. If there is still no Heartbeat message received after (HeartBtInt + "some reasonable transmission time") seconds then the connection should be considered lost and corrective action be initiated. If HeartBtInt is set to zero then no regular heartbeat messages will be generated. Note that a test request message can still be sent independent of the value of the HeartBtInt, which will force a Heartbeat message.

Heartbeats issued as the result of Test Request must contain the TestReqID transmitted in the Test Request message. This is useful to verify that the Heartbeat is the result of the Test Request and not as the result of a regular timeout.

Regardless of how well or how poorly this internet fact is shown by graphics by me or others, the fact is that all computing devices rely on intervals in time to do / not do (computational) tasks called the heartbeat. Google, BING heartbeat, heartbeat messages + stock exchange FIX / SWIFT standards and do your own homework, form your own conclusions or do nothing. When the markets are periodically collapsed and your 401k Investment retirement etc. accounts are devastated, you can take either an active or passive role -- see previous panel: Heartbeat / Heartbeat messages
NUMBER 108:  
ARTICLE:  Bitcoin Stock Exchange Could Be "More Valuable than Alibaba" Driven by a deep mistrust of Wall Street, Byrne has announced the creation of a division within his company charged with making this dream a reality.He's calling it "Medici" after the legendary family of Renaissance-era Italian bankers that pioneered the double-entry system of accounting."This could be as big, or bigger, than the Internet," the eccentric chief executive gushed to Wired earlier this month.The basic idea is to create a stock trading system that uses Bitcoin's public ledger of transactions, the blockchain, to bypass Wall Street's institutions. "We have, essentially, an open checkbook for them to build the crypto alternative to Wall Street," Byrne said in a speech given at the Inside Bitcoins Conference on October 6. To navigate the many thorny legal and regulatory issues, Byrne said he has enlisted the services of blue chip legal firm Perkins Coie.