What Is the Typical Latency Measured in for Institutional Trading Systems?

For institutional trading systems, especially those involved in high-frequency or algorithmic trading, latency is typically measured in microseconds (millionths of a second) or, for the most demanding systems, nanoseconds (billionths of a second). Latency measured in milliseconds (thousandths of a second) is generally considered too slow for competitive execution in modern, high-speed markets.