The discovery is explained in detail in the study:
“Synchronicity, Instant Messaging And Performance Among Financial Traders,” Serguei Saavedra, Kathleen Hagerty and Brian Uzzi. arxiv.org/abs/1110.0381. The authors are atNorthwestern University, Evanston, Illinois, USA. They say:
“racing to be the ﬁrst to discover the right time to trade is the critical problem to be solved. By analogy, this optimal timing may represent the mating sweet spot observed for cicadas. Chirp in the sweet-spot and the chance of mating/returns is relatively high and predation/losses is relatively low.