Wall Street & Technology's Data Latency Weblog

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Sybase this morning announced a shared data service intended to enable all parties who deal with market data – traders, quantitative analysts, portfolio managers, risk managers, compliance officers and others – to work from the same page.

For those on board the advancing trend on Wall Street to virtualize data centers and computing in general, the announcement from Violin and FalconStor this week, that they are offering a virtual storage server bundled with a fast memory appliance, should be interesting. The companies say that for $300 per gigabtye, their storage servers and memory units can stream data at speeds of two gigabytes per second and beyond, accelerating applications 10 to 50 times, while providing the benefits of virtualized storage.

If yours is like many Wall Street firms, you'd like to upgrade the one-gigabit Ethernet networks in your data centers to speed up applications, but you're not sure you want to make the leap to an exotic alternative like Infiniband or Fibre Channel. Startup company Teak Technologies offers a radically different idea: replace your end-of-row network switches with a layer of small, local switches that fit directly into racks or blades and, according to Teak, can accelerate an Ethernet network, save money and simplify network management.

Over the last month and a half, a slew of vendors have introduced trade data latency monitoring tools, to help exchanges, brokerage houses and buy-side firms find, detect and eliminate the causes of trade data delays.

The last time I met with Sybase, it was back when the big three database vendors were Informix, Oracle and Sybase — remember the 90s? This week, Gavin Quinn, FSI business development manager at Sybase, says the company is seeing a resurgence of interest in its high-speed, column-based databases among hedge funds and financial institutions.

As order books get bigger – the Tabb Group recently estimated that in just equities and options, the volume of market data messages across the global exchanges will soar from under four billion messages per day in 2006 to nearly 130 billion per day by 2010, as the number and variety of trading venues increases, as trades become smaller (e.g. 100 shares per order), as cancels and replacements accelerate, and as Reg NMS and MiFID make it necessary for firms to prove best execution, the need for an engine that can process and store that order book data efficiently becomes greater.

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