Latches are simple, low-level serialization mechanisms to protect shared data structures in the system global area (SGA). For example, latches protect the list of users currently accessing the database and protect the data structures describing the blocks in the buffer cache. A server or background process acquires a latch for a very short time while manipulating or looking at one of these structures. The implementation of latches is operating system dependent, particularly in regard to whether and how long a process will wait for a latch.
Latches inhibit scalability, that's why they have to be minimized. Using bind variables is one of the methods to reduce latches. If you're interested, look for more about bind variables on asktom.
HTH & Regards,
ORA-000TK : No bind variable detected... Shared Pool Alert code 5 - Nuclear query ready .