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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.

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July 31, 1998

Market of Markets Plans Media Bliltz

By Staff Reports

A planned multi-million dollar fall advertising campaign is about to transform "The Stock Market for the Next 100 Years" into "The Market of Markets."

The marketing blitz, believed to be costing more than $30 million, will highlight the merger of Nasdaq and the American Stock Exchange, and inform investors about the opportunities ahead.

The campaign will stress the options part of the Amex business, telling investors they can trade more than 800 stock and about 30 index options through the Nasdaq and Amex marriage.

"The Market of Markets" was a catchphrase quickly seized upon by the National Association of Securities Dealers in the wake of the merger announcement. In some ways, the catchphrase represents an effort by the NASD to distance itself from an earlier catchphrase, "The Market for the Next 100 Years." That was used to deride Nasdaq by people SOES bandits included who were critical of its Nasdaq trading business.

Meanwhile, the fall campaign is eagerly anticipated by NASD and Amex staffers.

"The campaign will pack a lot of punch in television, radio and the print media," said one person familiar with the campaign. "It really does give Nasdaq and the Amex a great millennium image."