<t>So I was reading about how the APs can turn ETF units into baskets and vice versa. In principle, it's not complicated. In practice though, how is it done? If you have a basket of stocks, how are you going to avoid getting killed in transaction costs? What do you do about illiquid issues? Is there...

<t>Hi,I've been reading an awful lot about the necessity of having low latency networks and software for high frequency trading systems. One thing that has escaped me thus far is what exactly the strategies are. If you only have fractions of a millisecond to make a decision, doesn't that severely li...