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Even people who support quantized markets don't propose markets running on human timescales.

Meanwhile, if you're the kind of trader that is impacted by trade latency (read: a competitive market maker or decently well capitalized prop trading firm), there are already venues you can trade in that are quantized. The problem is that nobody wants to trade in them.

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Not sure what you mean by "quantized market" (discrete-time auction?). But the opening and closing sessions at the NYSE run at human timescales (twice per day), and most of the daily volume is traded at open and close iirc.

edit: "Across Wall Street, less trading is taking place at 3 p.m. or, in fact, most any time but the opening minutes and the final half hour." http://www.wsj.com/articles/traders-pile-in-at-the-close-143...

Actually there have been several proposals for exchanges to work via, eg, every-N-seconds Dutch auctions.

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