Sell-Side Technology/Special
Knight Slays Performance Latency
Most broker-dealers are in a race to achieve the lowest network messaging latency possible, but for trade execution and market data, agency broker Knight Capital Group sees managing latency as only one leg in the quest to deliver best execution for its…
Mastering Latency Management
Since the introduction of electronic trading, achieving low-latency messaging has been a constant arms race amongst market participants. Being the first to see and execute against a quote puts traders in the best market position possible. Yet creating…
Solving the Latency Problem
As algorithmic and black box traders continue to grow their share of trading volume on the electronic markets, the importance of managing message latency continues to grow in parallel. For those firms that can receive the quotes the quickest and execute…
CEP: Strategic or Tactical Weapon?
Complex event processing (CEP) technology has existed in the capital markets for some time, but it has primarily gained traction in the algorithmic trading space. Today, CEP technology that analyzes large amounts of streaming data in real time has many…
What's in Store for Algorithmic Trading?
In the midst of the current wild market swings, many on Wall Street wouldn't be surprised to see institutional investors start favoring the return to high-touch executions over routing institutional orders through algorithmic trading platforms. However,…
Building the Better Algorithm
Seldom is optimizing a trading algorithm a matter of simply writing a tighter line of code or turning one screw: It usually involves a more holistic approach. DWT sits down with John Bates, founder and managing director of Progress Apama, to discuss how…
Looking Into the Crystal Ball
When it comes to predicting the future of any technology, "smaller" and "faster" are always a safe bet, followed by "easier to use." When it comes to algorithmic trading, all of these apply. From a performance perspective, the cash equities markets…
Start with the Gateway
The benefit of offering cross-asset trading is obvious to any broker-dealer: It simplifies the trading life of institutional clients by giving them a single point of contact with their brokers. However, delivering this capability, especially…
Laying the Cornerstone for Cross-Asset Trading
Whether it's an issue of providing new services to institutional investors or deploying a cost-saving maneuver in a down market, setting up electronic cross-asset trading capabilities is a difficult task for any broker-dealer. DWT assembled Steve Grob,…
Solving the Cross-Asset Riddle
If there is any issue in the industry that is best typified by the Gordian Knot, it is cross-asset trading. Unlike individual trading desks, where firms can deploy point solutions to improve efficiency, cross-asset trading involves dealing with a bank's…
Come What May
Now that 2008 has been consigned to the pages of history, financial technologists confront a challenging year ahead as the markets reinvent themselves during this global slowdown. What used to be extremely difficult jobs are now nigh-impossible as IT…
Riding the Dragon in 2009
A year ago, traders and technology vendors in Asia were riding a growing wave of liquidity and technology adoption. Direct market access (DMA), alternative trading systems (ATSes) and crossing networks steadily increased throughout the region as…
Truly Going Global
Anyone trying to predict the future of exchange evolution should be familiar with the standard industry boilerplate: Past performance is not a guarantee of future results. With that said, however, it's an amazing time to watch these new global exchange…
Speed Meets Excellence
Stock exchanges have come a long way-from the marketplaces where sellers and buyers met each other to engage in trade to today's electronic platforms, where participants can trade thousands of securities on a daily basis in only a few milliseconds. To…
The New Face of Exchanges
Over the last few years the global market structure has undergone unparalleled changes. DWT sits down with Michael Krogmann, head of section cash market for Deutsche Börse, and Joe Mecane, executive vice president and chief administrative officer (CAO)…
Exchanges Betting On New Business Models
Over the past few years the industry has seen an energetic rebirth of alternative trading systems (ATSes) that has put new pricing, performance and innovation pressures on the staid exchange community. In response, exchanges are exploring numerous new…
Letter to the Editor
Dear Sir, I'd like to respond to the introductory comments made in the Latency Special Report in last week's issue ( DWT , Nov. 10). In it, DWT editor Rob Daly questioned whether the strategy by some software houses to hire individuals from non-financial…
Low Latency's New Face?
As the demand for low-latency performance continues to increase across the industry, many firms seem to be noticing a dearth in talent when it comes to new hires. Most computer science programs currently stress a higher level of engagement in the…