How Should the Industry Measure Latency Performance—and the Measurers?

Latency needs no introduction as a frontline priority for the execution of high-frequency trading (HFT)—and while that priority borders upon the self-evident, it also leaves more than a little room for controversy.

At this week's North American Trading Architecture Summit in New York, few subjects discussed during the trading technologies panels ignited truly categorical disagreement—with one exception. What set off the debate was just how effectively the HFT industry—vendors as well end-users