Aye Tee nine thousand (not “at nine thousand”).
In automated trading systems, a kill switch is a system feature and/or procedure that can immediately halt and/or disconnect the output of a trading system. Synonymous with kill button.
MIT researchers worked out the physical locations to minimize network latency between a trading system (the small blue dots) and principal exchanges (the big red dots). The graphic is also a good visualization of the extent and integration of global financial markets.
Wissner-Gross and Freer,”Relativistic Statistical Arbitrage,” Physical Review E 82, 056104, 2010. Figure 2.
ISO 9000 refers to a family of standards for quality management systems published by the International Standards Organization (ISO). It defines general activities and artifacts needed by an organization to routinely satisfy requirements of its customers. It is generic and has been applied to all sizes of organizations, industries, and public sector agencies.
For more, go to ISO 9000 in Plain English and the Wikipedia Article.
Here’s a definition recently discussed by the CFTC. High Frequency Trading (HFT) is a form of automated trading that employs:
a) algorithms for decision-making, order initiation, generation, routing or execution;
b) low latency technology that is designed to minimize response times, including proximity or co-location services;
c) high speed connections to markets or order entry;
d) recurring high message rates (orders, quotes or cancellations), using one or more forms of objective measurement, including cancel-to-fill ratios, participant-to-market message ratios, participant-to-market trade volume ratios.