How would you build a newspaper or magazine without government enforcement of contracts and copyright?
If you want to claim an HFT shop is "quasi-governmental" because contracts are enforced, then basically every enterprise in the world is "quasi-governmental" (except for the black market).
I don't follow your comparison. Shouldn't it be Atlantic :: Joe's HFT Shop and NYSE :: Copyright Office? You do know that HFTs don't work for NYSE, right?
If you want to claim an HFT shop is "quasi-governmental" because contracts are enforced, then basically every enterprise in the world is "quasi-governmental" (except for the black market).