It can be done. It is just not very practical, you are better off writing C.
The only situation I can think of where Java would be right fit is where you have an application with a lot of logic and just a small part that needs to be highly optimized.
No. Java is not low-latency by any stretch. Java advocates would like to think it is, until a Bank, like BoA spends $8 million on Java in 2014, just to have it fail compliance testing. Entire project was scrapped.
Please, get informed on what real-time is before you comment (in general it is good idea to understand a concept before you place confident comments like yours).
Real-time has nothing to do with performance and everything to do with predictability and deadlines.
People are put off when they find out that real time versions of Java or Linux are actually slower than the regular ones. Until you think about it a little bit and if they were faster there would not be multiple versions.
Real-time versions of products are created because sometimes performance is achieved by means of stochastic processes or amortizing costs and you need to remove these optimizations to be able to support deadlines.
Real-time programming emphasizes ability to calculate how long an operation will take as more valuable than raw performance.
It might not be high frequency, but it certainly is real-time, unless you are implying that the agencies that give this kind of government certifications are all a bunch of fools.
The trading systems we work on have a wire-to-wire latency of 20 - 50 microseconds on the 99.9%ile. It really depends on what you are looking to achieve.
