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 30, 2004

A Faster Market On the Horizon?

By Gregory Bresiger

Michael LaBranche, CEO of the NYSE's largest specialist firm, says the fast market provisions of the proposed Reg NMS trade-through plan could force the Big Board to make technological changes.

"How will the fast market exception to the contemplated anti-trade-through procedures affect us? It may force us to abandon certain auction market principles to become a fast market," LeBranche wrote to regulators.