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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November 1, 2004

Goldschmid or Donaldson?

By Editorial Staff

Securites and Exchange Commission observers were closely watching the results of the presidential election. That's because Harvey Goldschmid, a Democrat appointed by President Bush to fill out the term of a Republican commissioner, will either be re-appointed by the next president or leave. Goldschmid's term expired in June. Goldschmid has often sided with SEC Chairman William Donaldson, a Republican who was appointed by President Bush. Speculation is that, under a Kerry administration, Goldschmid would likely be the next chairman. Under a Bush administration, however, it was not clear that the chairman would be re-appointed.