> HFT refer to a very specific trading hack Maybe 10 years ago, but these days (outside of very specific markets) most of the big “HFT”s are really doing quant

> HFT refer to a very specific trading hack Maybe 10 years ago, but these days (outside of very specific markets) most of the big “HFT”s are really doing quantitative trades or market making. > that is not available to general public Collocating with a venue is expensive and clearing membership of an exchange has capital requirements, but it’s not some old-boys club; anyone with sufficient funds can take part. It’s not available to the general public to exactly the same extent that exchange membership isn’t available to the general public.