





In this video, Jamie Allen, Director of Consulting at Typesafe and Jan Machacek, CTO of Cake Solutions, discuss the Reactive Manifesto with Mike O’Hara.
Jamie and Jan explain how it relates to the Capital Markets and financial trading communities, particularly in the areas of high frequency, low latency and high performance trading application development
How is the combination of microwave and FPGA technology changing the landscape of market data distribution and consumption, particularly in high performance, low-latency trading environments? And what are the challenges firms face when using this technology?
In this article, we speak with Arnaud Derasse, CEO of Enyx, Stephane Tyc, Co-Founder of Quincy Data and Ron Huizen, Vice President of Systems & Solutions at BittWare, to find out the answers to those questions.
In this interview, we talk to Sergei Poliakoff, Chief Information Officer and Member of the Executive Board at Moscow Exchange, about a number of initiatives that he is spearheading. Sergei discusses:
– The technological challenges of merging two exchanges into one
– Why the risk and clearing infrastructure is more important than the matching engine
– FPGAs versus software for pre-trade risk
– Plans around FIX, FAST and binary protocols
– How the exchange intends to satisfy growing demands for co-location
– Why Russian markets need more HFT
5th August 2013 – In this video interview, we talk to Leon Lobo, Strategic Business Development Manager at the UK’s National Physical Laboratory.
Leon discusses the challenges of accurate synchronisation of time across trading venues, an issue that was highlighted in 2012’s UK Government Foresight Report into the Future of Computer Trading in Financial Markets, and about the approach the NPL is taking to address those challenges.
12th July 2013 – In this interview, we talk to Dave Lauer, a Market Structure and Technology Architecture Consultant with extensive experience in designing and building HFT systems, who has testified before the Senate Banking Committee and appeared on SEC Panels. He argues that the US Equity market structure is in need of a major overhaul and looks at issues such as:
– Conflicts of interest at for-profit exchanges
– Are regulators currently able to perform adequate market surveillance?
– The relationship between “mini flash crashes” and maker-taker pricing
– How to improve academic research into market structure and HFT
28th May 2013 – In this interview, we talk to Sam Tyfield, Partner at Vedder Price, who takes us through the latest iterations of European regulations from a financial trading perspective, and helps untangle some of the knots around recently passed and proposed legislation, including:
– Financial Transaction Taxes in Europe
– The German HFT Act
– MiFID II, MiFIR and the new Market Abuse Regulation (MAR)
– The ESMA Guidelines Guidelines on Systems and Controls in Electronic Trading Environments, one year on
HFT Review Videos
Latest from the HFT Review Community
Latest from the HFT Review Community
Redline Trading Solutions and IEX
HFT Review 17 December 2013
Smoke-free markets
Regulation Matters (Fidessa) 11 December 2013
Patent Issues in Market Data Licenses
Mauro Viskovic 25 November 2013
High Frequency Trading and the True Value of Time
Victor Yodaiken 4 November 2013
And the Winner Is… Hybrid Trading!
Peter Fredriksson 4 November 2013
Expert Interviews
HFT Practitioners
- Adam Afshar, Hyde Park Global Investments
- Raj Fernando & Leslie Sutphen, Chopper Trading
- Mark Gorton, Tower Research Capital
- Peter Green, Kyte Group
- Walter Hendriks, ABR Financial
- Remco Lenterman, IMC Financial Markets
- Will Mechem, Pan Alpha Trading
- Peter Nabicht, Allston Trading
- Manoj Narang, Tradeworx
Buy Side/Hedge Funds
Sell Side/Brokers/Banks
Exchanges/Clearing Houses
Regulators/Politicians
Insdustry Bodies/Organisations
FEATURED WHITE PAPERS
Algorithmic trading has become ever more popular in recent years – accounting for approximately half of all European and American stock trades placed in 2012. The trading strategies need to be back-tested regularly using historical market data for calibration and to check the expected return and risk. This is a computationally demanding process that can take hours to complete. However, back-testing the strategies frequently intra-day can significantly increase the profits for the trading institution.
Russia’s central financial marketplace has evolved so rapidly that it is now primed to become a key international hub, and the finance organisations able to anticipate and quickly adapt to this fast-changing environment will clearly emerge as market leaders. This whitepaper discusses the current state of Russia’s electronic financial markets, and addresses the issues that need to be understood regarding infrastructure and connectivity challenges in Moscow.
Modern messaging, trading, and reporting systems require extremely low latencies, in the range of a few milliseconds, to meet customer expectations and strict service level agreements. This paper describes how to use new JVM technology to achieve maximum platform latencies of 1-2 milliseconds with very little tuning effort.
Vendors
- Chad Attlesey & Chris Butler, Hardcore Computer & Supermicro
- Charles Barry, Juniper Networks
- Dan Joe Barry, Napatech
- Gordon Bloor, Morningstar
- Yves Charles, NovaSparks
- Matt Dangerfield, Fixnetix
- Arnaud Derasse & Laurent de Barry, Enyx
- Mohammad Darwish, AdvancedIO
- Stephane Hauradou, PLDA/Accelize
- Yaron Haviv, Mellanox
- Marcus Hooper, Pipeline
- Hugh Hughes & Bob Fuller, Fixnetix
- Eric Scott Hunsader, Nanex
- Alastair Kane, Level 3
- Stephane Leroy, Quant House
- Louis Lovas, OneMarketData
- John Peach, Arista Networks
- Paul Rushton, Korusys
- Scott Sellers, Azul Systems
- Mo Takhim, Ullink
- Steve Wilcockson, Mathworks
Featured Articles
Exchange Focus – Warsaw Stock Exchange
Peter Niklewicz, Senior Advisor to the Warsaw Stock Exchange Management Board and the Exchange’s chief representative in the UK, discusses the launch of their new co-location service for high performance access, designed to offer clients low latency access to the Exchange’s UTP trading platform
Exchange Focus – Moscow Exchange
Sergei Poliakoff, Chief Information Officer and Member of the Executive Board at Moscow Exchange, discusses the technical challenges of merging two exchanges into one and shares his thoughts on risk and clearing infrastructure; FPGAs; the Exchange’s future strategy around interfaces and protocols, and satisfying growing demand for co-location.
Exchange Focus – SIX Swiss Exchange
John White, Head Equity Product Management at SIX Swiss Exchange, discusses some of the recent developments at the Exchange, including the adoption of NASDAQ’s X-stream INET trading system and the rolling out of sponsored access, and shares some thoughts on the latest European regulatory proposals