Start your engines: The future of high frequency trading

On March 27th the 2011 Formula 1 season kicks off with the Qantas Australian Grand Prix. Each of the teams will have spent untold millions of dollars refining their cars to be as fast and as aerodynamic as possible. The drivers will study the tracks and other drivers carefully, plotting and memorizing the optimal driving lines, and when the race day arrives they will constantly drive at the edge of their ability in their bid to win pole position. Speed is everything in this game and anything - from the tilt of a fin to the flow of air over the nose - can give the vital, incremental advantage needed to win. But driving at such speeds carries very serious risks both for the drivers, those around them, the spectators, and ultimately the reputation of the sport. That's why each year the Fédération Internationale de l'Automobile (FIA) issues a set of rules designed to promote safety and fairness between the teams by strictly governing the design and performance of the cars. On February 3rd the FIA published fifteen such technical rules for the 2011 season - four based on safety considerations and eleven addressing fairness. Together they control detailed technical specifications such as the placement of rear-view mirrors, minimum chassis height and the aerodynamic design of rear fins. Does any of this sound familiar?