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.

Traders Poll

Are you in favor of a pilot program and examination of the rebate system by the SEC?




Free Site Registration

March 23, 2005

Arca Awake in the Wee Hours

By Gregory Bresiger

ArcaEx is rising in the wee hours for European traders. The Securities and Exchange Commission recently approved a plan by Archipelago Holdings, operator of ArcaEx, to start trading at 4.00 a.m. (EST) instead of the current 8.00 a.m.

"There has been demand for this for some time from our European clients," ArcaEx spokeswoman Margaret Nagle told Traders Magazine. Archipelago officials have said that European investors will benefit from price discovery available on ArcaEx. The early opening, they say, is important for investors trading ADRs and other exchange-listed foreign stocks.

Nagle said that, at this point, the amount of trading likely would not be substantial. At press time, Nagle was expecting the earlier opening to be fully available without delay.