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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2003 Photo Gallery Events

January

Baltimore Mid-Atlantic STA 68th Annual Winter Conference - January 30 - February 1

Constellation Room
Friday, January 31, 2002

January 31, 2003

London London STA - January 30

London, England
January 30

January 29, 2003

Chicago STA of Chicago 77th Annual Mid-Winter Conference - January 9-12

Maiggiano’s Restaurant
January 8, 2003

January 7, 2003

February

Florida STA of Florida 23rd Annual Conference - February 14-17

February 13, 2003

Pennsylvania The ITA of Philadelphia 79th Annual Mid-Winter Convention - February 20-22

Buy Side / STA Forum on Industry Issues
Lowes Philadelphia Hotel, Philadelphia
February 21, 2003

February 20, 2003

March

California STA of Los Angeles 68th Annual Convention - March 21-23

Border Grill
Santa Monica, CA
March 20, 2003

March 19, 2003

Minnesota Minnesota Securities Dealer Association 2003 Winter Conference - March 6-7

Direct Access vs Traditional Brokerage
Hilton Hotel Salon G
March 6, 2003

March 5, 2003

April

New York Baruch Financial Conference - April 29

Conference Organizer
Professor Robert A. Schwartz
Handling the large orders of institutional participants some of the most complex problems for system design. How well are our current systems operating and how effective are new facilities on the scene? To what extent is market quality impaired for all participants when institutional trading costs are not properly contained? Can institutional order flow be efficiently integrated with the orders of retail customers, or are separate facilities needed? What are the impediments to market structure change, and how might they best be overcome? These are some of the questions that will be addressed. In so doing, the conference will consider major ways in which to improve the efficiency of our equity markets.

April 27, 2003

New York STA of New York 67th Annual Dinner - April 9-11

New York Marriott Marquis Hotel
Friday, April 11, 2003

April 9, 2003

May

Boston Boston STA 79th Annual Conference - May 1-3

Educational Panels
Correlation Between Equity & Bond Markets
Fairmont Copley Plaza, Oval Room
Saturday, May 3, 2003

May 1, 2003

California San Francisco STA 73rd Annual Conference and Vendor Fair - May 31-June 1

Troon Breakfast Room
Saturday, May 31, 2003

May 29, 2003

Missouri Kansas City Securities Association Annual Spring Outing - May 15-16

Regent Ballroom
Friday, May 16, 2003

May 14, 2003

South Carolina North Carolina STA 28th Annual Convention - May 23-26

May 21, 2003

Washington DC STA 7th Annual Congressional Conference - May 8

Springwood Room
Thursday, May 8, 2003

May 6, 2003

June

Chicago STA of Chicago 16th Annual Day in the Sun - June 8

Oak Park Country Club
June 8, 2003

June 6, 2003

Cleveland Cleveland STA Summer Outing - June 19

Stonewater Golf Club
June 20, 2003

June 18, 2003

Missouri STA of St Louis Annual Summer Outing - June 4-5

Officers

June 2, 2003

Pennsylvania The ITA of Philadelphia 81st Annual Summer Convention and Golf Outing - June 27-29

Casino Resort Pool
June 27, 2003

June 25, 2003

Virginia Mid-Atlantic STA Summer Conference - June 13-15

Faulkner Room
June 14, 2003

June 12, 2003

July

Minnesota Minnesota Security Dealers Association 2003 Summer Conference - July 10-11

Mississippi Room, Marquette Hotel, July 10, 2003

July 8, 2003

Pennsylvania Pittsburgh STA - July 23-26

July 21, 2003

August

Canada Canadian Security Traders 10th Annual Convention - August 21-24

Macdonald Room
August 22, 2003

August 20, 2003

Washington Seattle-Portland STA 63rd Annual Convention - August 14-17

Inn at Semiahmoo
August 16, 2003

August 14, 2003

Wisconsin STA of Wisconsin 28th Annual Convention - August 7-9

Grand Geneva Ballroom Foyer
August 8, 2003

August 6, 2003

September

Georgia The Georgia Securities Association 2003 Fall Outing - September 18-20

Heritage Golf Club
Atlanta, Georgia
September 19, 2004

September 16, 2003

Tennessee Mid-South Security Dealers 2nd Annual Convention - October 2-3

Madison Hotel, Iris West Room
October 2, 2003

September 30, 2003

Texas Dallas STA Annual Convention - September 4-7

The Gallery • Friday, September 5, 2003

September 3, 2003

October

New York 10th Annual Securities Industry Conference - October 23

William C. Freund Center for the Study of Equity Markets Lubin School of Business Pace University
Thursday, October 23, 2003

October 21, 2003

Connecticut STA of Connecticut - October 7

Great River Golf Club •
Milford, CT •
October 7, 2003

October 5, 2003

November

New York 2003 STANY International - November 28

Regent Wall Street Hotel, Grand Ballroom
November 28, 2003
NYC, NY

November 27, 2003

New York NOIP Fall Conference - November 3

Baroque Foyer
The Plaza, New York

November 2, 2003

New York Wall Streets 14th Annual Taste of New York

The Regent Wall Street Hotel – November 18, 2003

November 17, 2003

December

Colorado Denver STA 33rd Annual Convention - December 4-7

ESPN Sport Zone, Denver, Colorado
December 4, 2003

December 3, 2003

MSTA Industry Presentation

Mid-Atlantic Security Traders th Annual Winter Conference - January -

December 31, 2003

Officers and Directors

Mid-Atlantic Security Traders th Annual Winter Conference - January -

December 31, 2003

Reception I

Mid-Atlantic Security Traders th Annual Winter Conference - January -

December 31, 2003

Reception II

Mid-Atlantic Security Traders th Annual Winter Conference - January -

December 31, 2003

Golf

Boston STA th Annual Conference - May -

December 31, 2003

Morning Program

Boston STA th Annual Conference - May -

December 31, 2003

Officers and Guests

Boston STA th Annual Conference - May -

December 31, 2003

Reception

Boston STA th Annual Conference - May -

December 31, 2003

Business Meeting

San Francisco STA th Annual Conference - June -

December 31, 2003

Golf

San Francisco STA th Annual Conference - June -

December 31, 2003

Officers

San Francisco STA th Annual Conference - June -

December 31, 2003

Opening Reception

San Francisco STA th Annual Conference - June -

December 31, 2003

Reception

San Francisco STA th Annual Conference - June -

December 31, 2003

Reception II

San Francisco STA th Annual Conference - June -

December 31, 2003

Vendor Fair

San Francisco STA th Annual Conference - June -

December 31, 2003

Officers and Directors

STA of Los Angeles Convention - March -

December 31, 2003

Presidents Reception

STA of Los Angeles Convention - March -

December 31, 2003

Reception

STA of Los Angeles Convention - March -

December 31, 2003

Vendor Fair and Reception

STA of Los Angeles Convention - March -

December 31, 2003

Vendors

STA of Los Angeles Convention - March -

December 31, 2003

Golf

Canadian STA th Annual Convention - July -

December 31, 2003

Officers

Canadian STA th Annual Convention - July -

December 31, 2003

Reception

Canadian STA th Annual Convention - July -

December 31, 2003

Welcome Reception

Canadian STA th Annual Convention - July -

December 31, 2003

Opening Remarks

IETA Election of Officers and Board - June

December 31, 2003

Reception

IETA Election of Officers and Board - June

December 31, 2003

Dempsey-GVR Client Party

STA of Chicago th Annual Mid-Winter Meeting - January -

December 31, 2003

Hill Thompson Magid and Co Client Dinner

STA of Chicago th Annual Mid-Winter Meeting - January -

December 31, 2003

Knight Equity Markets Client Party

STA of Chicago th Annual Mid-Winter Meeting - January -

December 31, 2003

Nasdaq Opening and Closing Enhancements

STA of Chicago th Annual Mid-Winter Meeting - January -

December 31, 2003

Officers

STA of Chicago th Annual Mid-Winter Meeting - January -

December 31, 2003

Reception I

STA of Chicago th Annual Mid-Winter Meeting - January -

December 31, 2003

Reception II

STA of Chicago th Annual Mid-Winter Meeting - January -

December 31, 2003

Schwab Capital Markets Client Party

STA of Chicago th Annual Mid-Winter Meeting - January -

December 31, 2003

STA Affiliate Presidents Workshop

STA of Chicago th Annual Mid-Winter Meeting - January -

December 31, 2003

STA Board of Governors Meeting

STA of Chicago th Annual Mid-Winter Meeting - January -

December 31, 2003

STA Business Meeting

STA of Chicago th Annual Mid-Winter Meeting - January -

December 31, 2003

STAC Industry Presentation

STA of Chicago th Annual Mid-Winter Meeting - January -

December 31, 2003

Technical Analysis Seminar

STA of Chicago th Annual Mid-Winter Meeting - January -

December 31, 2003

Vendor Fair

STA of Chicago th Annual Mid-Winter Meeting - January -

December 31, 2003

WhirlyBall Party

STA of Chicago th Annual Mid-Winter Meeting - January -

December 31, 2003

Reception

STA of Chicago Day in the Sun - June

December 31, 2003

Reception

Cleveland STA Summer Outing - June -

December 31, 2003

Officers and Directors

STA of Florida th Annual Conference - February -

December 31, 2003

Reception

STA of Florida th Annual Conference - February -

December 31, 2003

Updates

STA of Florida th Annual Conference - February -

December 31, 2003

Welcome Reception

STA of Florida th Annual Conference - February -

December 31, 2003

Golf

Georgia STA Fall Outing - October -

December 31, 2003

Officers

Georgia STA Fall Outing - October -

December 31, 2003

Reception

Georgia STA Fall Outing - October -

December 31, 2003

Reception II

Georgia STA Fall Outing - October -

December 31, 2003

Golf

Kansas City STA Annual Spring Outing - May -

December 31, 2003

Marching Cobras Scholarship Awards Dinner

Kansas City STA Annual Spring Outing - May -

December 31, 2003

Officers

Kansas City STA Annual Spring Outing - May -

December 31, 2003

Reception

Kansas City STA Annual Spring Outing - May -

December 31, 2003

Reception II

Kansas City STA Annual Spring Outing - May -

December 31, 2003

Business Meeting

Minnesota Security Dealers Association Summer Conference - July -

December 31, 2003

Farewell Reception

Minnesota Security Dealers Association Summer Conference - July -

December 31, 2003

Golf Tournament

Minnesota Security Dealers Association Summer Conference - July -

December 31, 2003

Opening Reception

Minnesota Security Dealers Association Summer Conference - July -

December 31, 2003

Risky Rites

Minnesota Security Dealers Association Summer Conference - July -

December 31, 2003

NYSE Interactive Simulated Trading

Minnesota Security Dealers Association Winter Conference - March -

December 31, 2003

Welcome Reception

Minnesota Security Dealers Association Winter Conference - March -

December 31, 2003

Crown Financial Group STANY Party

STA of New York th Annual Dinner and Conference - April -

December 31, 2003

General Reception

STA of New York th Annual Dinner and Conference - April -

December 31, 2003

Industry Update and Discussion of Reg NMS

STA of New York th Annual Dinner and Conference - April -

December 31, 2003

Officers

STA of New York th Annual Dinner and Conference - April -

December 31, 2003

Presidents Reception

STA of New York th Annual Dinner and Conference - April -

December 31, 2003

Schwab Soundview Capital Markets STANY Reception

STA of New York th Annual Dinner and Conference - April -

December 31, 2003

STANY President Opening the Markets

STA of New York th Annual Dinner and Conference - April -

December 31, 2003

Tim Grazioso Memorial Breakfast

STA of New York th Annual Dinner and Conference - April -

December 31, 2003

Vendor Fair

STA of New York th Annual Dinner and Conference - April -

December 31, 2003

Reception

Zicklin School of Business Electronic vs Floor Based Trading - May

December 31, 2003

Officers and Directors

ITAP th Annual Mid-Winter Convention - February -

December 31, 2003

Opening Reception

ITAP th Annual Mid-Winter Convention - February -

December 31, 2003

Reception

ITAP th Annual Mid-Winter Convention - February -

December 31, 2003

Opening Reception

ITAP Summer Conference - June -

December 31, 2003

Reception

ITAP Summer Conference - June -

December 31, 2003

Officers

Pittsburgh Stock and Bond Assoc Annual Conference - July -

December 31, 2003

PSBA Charity Gala to Benefit Juvenile Diabetes

Pittsburgh Stock and Bond Assoc Annual Conference - July -

December 31, 2003

Reception

Pittsburgh Stock and Bond Assoc Annual Conference - July -

December 31, 2003

Keynote Speakers

STA of Portland th Annual Convention - August -

December 31, 2003

Officers

STA of Portland th Annual Convention - August -

December 31, 2003

Reception

STA of Portland th Annual Convention - August -

December 31, 2003

Reception II

STA of Portland th Annual Convention - August -

December 31, 2003

Knight Trading Client Dinner

STA of St Louis Annual Summer Outing - June -

December 31, 2003

Officers

STA of St Louis Annual Summer Outing - June -

December 31, 2003

Opening Reception

STA of St Louis Annual Summer Outing - June -

December 31, 2003

Reception

STA of St Louis Annual Summer Outing - June -

December 31, 2003

Wien Securities Client Dinner

STA of St Louis Annual Summer Outing - June -

December 31, 2003

Officers

Mid-South Dealers Association rd Annual Convention - Sept -Oct

December 31, 2003

Reception

Mid-South Dealers Association rd Annual Convention - Sept -Oct

December 31, 2003

Reception II

Mid-South Dealers Association rd Annual Convention - Sept -Oct

December 31, 2003

Golf Tournament

Dallas STA Convention - September -

December 31, 2003

Hudson Securities Client Dinner

Dallas STA Convention - September -

December 31, 2003

Institutional Luncheon

Dallas STA Convention - September -

December 31, 2003

Officers

Dallas STA Convention - September -

December 31, 2003

Reception

Dallas STA Convention - September -

December 31, 2003

VIP Dinner

Dallas STA Convention - September -

December 31, 2003

Officers

Mid-Atlantic STA Summer Conference - June -

December 31, 2003

Reception

Mid-Atlantic STA Summer Conference - June -

December 31, 2003

Reception II

Mid-Atlantic STA Summer Conference - June -

December 31, 2003

A View From the Street

th Annual STA Congressional Conference - April -

December 31, 2003

Importance of Grassroots-STAPAC

th Annual STA Congressional Conference - April -

December 31, 2003

Market Structure Update

th Annual STA Congressional Conference - April -

December 31, 2003

Reception

th Annual STA Congressional Conference - April -

December 31, 2003

Golf Tournament

STA of Wisconsin th Annual Convention - August -

December 31, 2003

Officers

STA of Wisconsin th Annual Convention - August -

December 31, 2003

Reception

STA of Wisconsin th Annual Convention - August -

December 31, 2003

Robert W Baird Client Dinner

STA of Wisconsin th Annual Convention - August -

December 31, 2003

Sporting Clays Tournament

STA of Wisconsin th Annual Convention - August -

December 31, 2003

Welcome Reception

STA of Wisconsin th Annual Convention - August -

December 31, 2003