Earlier quoted context omitted.
Perhaps not a satisfactory response but when I start drifting towards thinking FP is fundamentally not as performant as _whatever_else_, I remember that Jane Street uses OCaml basically from top to bottom, and they certainly can't be too slow... Some black magic going on there.
Is the kind of HFT that Jane Street does that reliant on extremely low latency? A lot of HFT firms operate on the timescale of seconds, minutes, or even hours, not milliseconds.
I feel like there must be terminology confusion here - the HF in HFT stands for high frequency, which effectively means low latency. There may be HFT firms that additionally do slower stuff, but no one would call a trade on the timescale of hours HFT - it's a fuzzy line, but certainly nothing measured in units larger than microseconds would qualify to someone in the industry, and the line is likely lower than that.