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Accelerating Wall Street 2010
May 11, 2010
Bank Systems & Technology Executive Summit 2010
October 3-6, 2010
Advanced Trading's Buy-Side Trading Summit 2010
October 17-19, 2010
Web Events:
Online Account Acquisition - What are the Drivers of Abandonment and Conversion?
March 30, 2010
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TGIF: The Cash Cow of High-Frequency Trading
October 02, 2009 @ 08:31 AM | By Greg MacSweeney
The Daily Show correspondent Samantha “Money Honey” Bee wants to tell her small investor friends about high-frequency trading before regulators outlaw it. Once again, Jon Stewart and his Daily Show crew have fun with the latest practice on Wall Street that is creating controversy and drawing attention from politicians and the public.
| The Daily Show With Jon Stewart | Mon - Thurs 11p / 10c | |||
| Cash Cow - High-Frequency Trading | ||||
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What’s Needed to Parallelize Wall Street Apps, According to Intel
December 09, 2008 @ 09:50 AM | By Penny Crosman
At an Intel event last night, senior research specialist Mikhail Smelyanskiy noted that although standard server hardware is becoming increasingly multi-core, a lot of existing code on Wall Street was written for single cores, and IT people on the Street tend to lack parallel programming skills. (So although servers are getting faster, Wall Street applications aren’t equipped to take advantage of the better performance.) Specialized accelerators, such as the IBM Cell, the Nvidia Tesla and ClearSpeed’s FPGA board are “hard to program and require algorithm changes and explicit memory management,” he said. (Of course, it is in Intel’s best interest to dismiss the competing hardware accelerators and push the idea of redesigning applications to take advantage of Intel’s multi-core architecture.)
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Hard Drives That Can Keep Up With Quants
September 10, 2008 @ 05:53 PM | By Penny Crosman
The heads-down financial wizardry that quants perform – constructing and running pricing models, volatility models, market simulations and such – as well as the reams of data traders look at and the analysis portfolio managers perform, all call for supercomputer-like desktop machines. The round of high-performance solid state drives that Intel announced today looks like a good fit for such Wall Street power users. The drives hold a lot of data (80 gigabytes), are high performing (with read speeds of up to 250MB per second and write speeds up to 70MB per second) and have low latency (85 millionths of a second read latency). They have no moving parts, which should make them less likely to break than mechanical drives (these SSDs boast a mean time between failure of 1.2 million hours) and they consume a mere 150 milliwatts of electricity each (a milliwatt is a thousandth of a watt; a household light bulb consumes 25 to 100 watts).
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OpTier Offers A Clearer View of Transactions
September 09, 2008 @ 02:18 PM | By Penny Crosman
OpTier is shipping a new version of its CoreFirst software this week that the company says will provide better visibility into transactions such as trade orders and new tools to meet service level agreements or promises on trade execution.
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Adobe, GemStone to Speed Global Workflows, Document Sharing
August 22, 2008 @ 04:27 PM | By Penny Crosman
As Wall Street firms continue to open new offices in foreign countries and to outsource around the globe, one challenge for IT departments is to make sure that work, data and documents flow quickly and smoothly among widespread offices and data centers. Adobe and GemStone are announcing today a joint solution designed to meet this challenge: they’ve embedded GemStone’s GemFire data virtualization software, which harnesses the memory resources of many computers to speed up data retrieval and improve scalability and fault tolerance, into a version of Adobe’s LiveCycle workflow and document management software.
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Is a Low-Energy Consumption Chip Alternative on the Horizon?
June 30, 2008 @ 12:04 PM | By Greg MacSweeney
This isn't a blog about adjustable rate mortgages (ARMs). Rather, its about a newer type of chip technology from ARM Holdings, a UK-based company, that has the potential to lower energy use and extend battery life in smaller devices. Will the technology find its way to PCs and servers? And should Intel be worried?
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Wall Street Firms Ramping Up HPC for Risk, Portfolio Analysis
June 16, 2008 @ 10:36 AM | By Penny Crosman
A survey of high-level IT executives on Wall Street recently completed by Microsoft and KRC Research found that firms are facing increased demands to run real-time market risk analysis (25%), middle-office risk analytics (34%) and portfolio-related calculations such as rebalancing and hedging strategies (42%). These tasks all call for high-performance computing resources, such as hardware accelerators, fast databases and data grids. The respondents reported “a lot or some” demand for HPC to handle real-time market risk analysis (51%), middle-office risk analytics (50%) and portfolio-related calculations (54%).
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Credit Suisse Adopts Data Latency Monitor; CodeStreet Rolls Out New Latency Monitoring Tool
June 13, 2008 @ 04:54 PM | By Penny Crosman
As we noted in April and as Ivy Schmerken noted in her story in the SIFMA daily newspapers we put out, there’s a promising market forming around data latency monitoring tools for Wall Street firms, tools that measure and track precisely how long it’s taking market data to travel from exchange to algorithmic trading application and alert managers when latency problems occur. Such tools can help a firm make sure that its trading programs can react instantly to market changes. There were two more data latency monitoring announcements at the SIFMA show that we didn't have time to include in our earlier coverage this week.
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Mitsubishi UFJ Securities Rates Group Getting A Tech Makeover
May 28, 2008 @ 01:45 PM | By Penny Crosman
The rates trading group at Mitsubishi UFJ Securities, part of Mitsubishi UFJ Financial Group (the largest financial institution in the world in total assets), is putting new technology behind its approach to relative value pricing and dissemination of market data. The group, which was formed in March 2006 and now employs 50 people, is installing a real-time tick database and low-latency price distribution technology.
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High-Performance Server Brings Low Latency to Java Apps
May 20, 2008 @ 11:36 AM | By Penny Crosman
Java’s popularity – according to IDC, more than $11 billion, or 20% of worldwide server spend, was devoted to Java servers in 2005 and analysts estimate that number is growing 15-20% annually – is sweeping the Street, at least according to anecdotal evidence. “There are four areas in which we’ve succeeded in the last 18 months: derivatives trading, risk analysis, hedge funds and foreign exchange,” reports Ram Appalaraju, vice president of marketing at Azul Systems, maker of a Java acceleration appliance used by many large Wall Street firms. “The reason they prefer Java is the cost of development in Java is a lot cheaper than any other programming environment.”
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Sybase Launches Shared Data Platform For Trade Data Analytics
May 12, 2008 @ 12:45 PM | By Penny Crosman
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.
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Virtual Storage and Memory Appliance Combo the Latest Approach to Low Latency
April 22, 2008 @ 11:57 AM | By Penny Crosman
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.
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Network Accelerator Makes Ethernet Networks Infiniband-Like
April 11, 2008 @ 05:47 PM | By Penny Crosman
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.
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Small Flood of New Data Latency Monitors
April 02, 2008 @ 01:40 PM | By Penny Crosman
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.
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Column-Based Databases Making A Wall Street Comeback
March 11, 2008 @ 06:41 PM | By Penny Crosman
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.
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Vhayu Offers Real-Time and Historical Order Book Analysis
October 29, 2007 @ 10:49 AM | By Penny Crosman
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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Weblogs of Interest Dark Reading: Firewalled Chief Risk Officer: New Era of Risk Management InformationWeek's Blog Digest Parry Aftab, the Privacy Lawyer |
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