That's it. That's what an RT system is. I don't care if your latency is 1us, 1ms, 1s or 1h. If you can't miss the deadline then your system is a real-time one.
Low-latency then depend on how your strategy works and your particular needs. It's useless to have sub ms timing of stock market data if your results take seconds to calculate.
Of course, your strategy that takes 1s might be more lucrative than one that takes 10ms to calculate. Then it's up to you and your algos.