I’m not sure you’re reading that correctly, since the response concerned the idea that the core goal of financial markets is X, and you respond with a statement on equities markets, which by definition only concern financing companies.

Equities markets are a piece of the pie. The largest, by far, for the kind of HFT we’re talking about, but a fraction of financial activity.

The core goal of financial markets is to gather and match prospective buyers and sellers so that trading can occur.

I was replying to a post talking about secondary market share trading replying to a post about the value of liquidity in AAPL, so in context it seemed clear equities were the market under discussion

Obviously true that financial markets for commodity futures etc have different functions, though a similar logic applies to them (the extra liquidity in commodities futures markets is useful to the extent it facilitates real world production decisions)

I’ve never see his research brought up amongst quants or traders, but I like his writing.

Does anyone who works in this field know of it being currently applied?

I spent most of my career in finance including a hedge fund and several international banks.

Personally I really enjoy his books and recommend them to my friends and family. Professionally, I have never heard his name being mentioned.

You find the same 'fluffy' management books on trader desks (varies between firms).

- Some translation of "the art of war". - Tribal leadership and their whole "Tribe of tribes" nonsense - its name escapes me at the moment, but some leadership book written by a US marine? Because this maps directly to finance? - six sigma

Usually they are "management" focused chanting type material.

The majority of the market, by flow, is open 23H a day during the week, and opens Sunday evening.

that falls into the category of knowing the “true” price better than you do

Sure, but those short-term active strategies have little impact next to what big paper will lift in major macro markets.

Not sure exactly what you're trying to say but let me tell you, fills from other HFT firms are highly toxic.

The culture of HFT (CS/JS/CHI.*/Optiver/IMC) is not 80/90/2000’s IB.

Nicely organized and dense.

Thanks for the material!

No it isn’t.

Most markets, in terms of their daily volume, are open at night, but very thinly traded until EU hours, but some do see action in Asia hours. It’s just about liquidity.

Maybe you’re thinking of single name equity markets, which are a fraction of daily trading.

I think they’re probably asking about US markets. Afaik those do close at business hours and I’m not sure how after hours trading happens but it might not be available to most people.

I think the one of the main reasons is government concerns about shenanigans happen overnight without oversight / flash crash. That being said I presume all the breakers that would halt trading activity are probably automatic but potentially not all of them (I think the US did things like that during the housing collapse).