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Tim Quast
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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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June 30, 2002

GAO to Look at Markets

By Gregory Bresiger

Are traders safe at the world's biggest exchanges in lower Manhattan? Were the stepped up security measures taken by private and public agencies enough to protect against further acts of terrorism?

These are some of the issues that will be examined by the General Accounting Office (GAO), which is an investigative arm of Congress.

The GAO has been asked to make a study of new securities measures at the request of Representative Edward Markey (D-Mass), Representative John Dingell (D-Michigan) and Representative Bill Tauzin (R-Louisanna).

The GAO has also been charged with examining how improved security measures at the exchanges fit in with the nation's homeland security plan.

The study will include a look at exchanges, broker dealers, electronic communications networks and banks.

The study is projected to be finished by the end of January 2003.