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, 2002

More Staff for the SEC?

By Gregory Bresiger

The Securities and Exchange Com mission has begun a four-month study to examine its "efficiency, productivity and resources." The SEC recently asked for higher staffing levels in light of the recent Enron scandal.

"The special study will enable us to ascertain whether we need staffing or other resources beyond the amount we requested, or whether more efficient use of existing staffing and other resources may meet our needs," said Harvey Pitt, SEC Chairman.

Pitt has already asked Congress to increase SEC staffing by 100 professionals. He said the extraordinary demands on staffing caused by the loss of the Northeast regional office in the Sept. 11 tragedy, as well as the demands of investigating the Arthur Andersen, Global Crossing and Enron problems, have necessitated the additional staff.