Latency Hardware: Threading the Needle

Juan Ortega, Goldman Sachs (right), at last year's European Financial Information Summit

Re-architecture is on firms' minds in for two very separate, though equally fraught, kinds of hardware implementations. The first, common to proprietary trading shops and their executing brokers, is how to properly parse out the infrastructural route of a trading strategy. "If you're trading leaders and lenders in a basket trade, the decisions for each leg of the trade might be extremely latency-sensitive, but overall throughput at a modeling level might be less so, and in that case we'll use