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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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December 14, 2007

Lava Trading to Launch Dark Algo

By Peter Chapman

Lava Trading is expected to introduce a new algorithm that searches for liquidity in so-called "dark pools." The algorithm, called Go-To, will be the second service offered by Lava that looks for liquidity amongst non-public orders. The unit of Citi also makes available to users of its order management system a service called Dark Book, which taps liquidity provided by other Lava customers hidden in reserve orders on exchanges and ECNs. The new Go-To algorithm joins a slew of similar algos (see Traders Magazine, April) offered by broker-dealers. Go-To will be one of only two algorithms offered by vendors. The other comes from FlexTrade.