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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March 1, 2003

Another Disaster?

By Gregory Bresiger

Wall Street needs to take more steps to improve its business continuity planning. That was what a Congressional investigating agency recently reported. It has examined the emergency planning of some 15 organizations, including several exchanges.

"Our review indicated that most of the 15 organizations faced greater risk of operations disruptions because their business continuity plans did not adequately address how they would recover if large portions of their critical staff were incapacitated," according to Davi M. D'Agostino, the GAO's director of financial markets and community investment.