Yes, but you're not going to have efficient transcendental functions implemented in hardware.

Ah okay, fair enough. But what sort of transcendental functions would you use for HFT?

I guess I understood GGGGP's comment about using fixed point for interacting with currency to be about accounting. I'd expect floating point to be used for trading algorithms, but that's mostly statistics and I presume you'd switch back to fixed point before making trades etc.

Yes, integer combined with bit-shifts.