Commentary

Tim Quast
Traders Magazine Online News

We're All HFTs Now

In this guest commentary, author Tim Quast looks back at the history of HFT and how the market has evolved to where many firms now fit the definition of high-frequency trader.

Traders Poll

Are you in favor of a pilot program and examination of the rebate system by the SEC?




Free Site Registration

March 1, 1998

At Deadline - Levitt Renominated

By John A. Byrne

President Clinton plans to nominate Arthur Levitt to a second term as chairman of the Securities and Exchange Commission. Levitt's current five-year term expires in June. A second term would end in June 2003, and serving the full term would make Levitt the longest-sitting chairman in the SEC's 63-year history.

The nomination must be confirmed by the Senate Banking Committee before receiving full approval from the Senate. Levitt, a former chairman of the American Stock Exchange, championed the interests of small investors during his first term, focusing in particular on tougher oversight for the municipal bond market, Nasdaq and brokerage firms.

John S.R. Shad, who headed the SEC from 1981 to 1987, was the only other chairman to be reappointed. He left office before the completion of his second term to become Ambassador to the Netherlands.