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The possible design of QND gravitational-wave detector based on speed meterprinciple is considered with respect to optical losses. The detailed analysisof speed meter interferometer is performed and the ultimate sensitivity thatcan be achieved is calculated. It is shown that unlike the position metersignal-recycling can hardly be implemented in speed meter topology to replacethe arm cavities as it is done in signal-recycled detectors, such as GEO 600.It is also shown that speed meter can beat the Standard Quantum Limit (SQL) bythe factor of $\sim 3$ in relatively wide frequency band, and by the factor of$\sim 10$ in narrow band. For wide band detection speed meter requires quitereasonable amount of circulating power $\sim 1$ MW. The advantage of theconsidered scheme is that it can be implemented with minimal changes in thecurrent optical layout of LIGO interferometer.Comment: 20 pages, 12 figure

Sensitivity limitations in optical speed meter topology of gravitational-wave antennas