In 1999 I moved to Florida to start another hedge fund and opened a brokerage firm catering to big traders and institutions looking for direct access trading of their high frequency algorithms, which is what my funds specialized in.
Tiring of the Big Apple, Gilani moved to Florida in 1999 and started another hedge fund and opened a brokerage firm focused on direct access trading of what would soon morph into high frequency algorithms, many of which he designed and still uses.
The SEC wants to ban certain activities involving high frequency trading firms, including certain types of trading orders and certain ways they can access NYSE and other market centers.