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.

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April 1, 2000

Section 31 Bills

By William Hoffman

Three Congressional bills would put a lid on Section 31 fees.

Senator Phil Gramm's S. 2107 would cap total Section 31 fee collections on a sliding scale, from $413 million in fiscal 2001 to $884 million in fiscal 2010 and thereafter. That's a formula slightly less generous than New York GOP Rep. Vito Fossella's H.R. 1256.

H.R. 2441, by New York Republican Rep. Rick Lazio, would reduce the fee from its current 1/300th of 1 percent on the value of transactions, to 1/500th of 1 percent.