Before revision:  Surprisingly, this type of process , only with the long-term memory within waiting times, can successfully describe slowly decaying nonlinear autocorrelation function of the stock market return .
After revision:  Surprisingly, this type of process , only with the long-term memory within waiting times, can successfully describe slowly decaying nonlinear autocorrelation function without a fat-tailed distribution of time intervals. Our model applied to high-frequency stock market data can successfully describe the slope of decay of nonlinear autocorrelation function of stock market returns .