Test Finds Infrastructure Eliminates Latency Spikes
With market data message rates skyrocketing, Wall Street firms are worried about data latency affecting the behavior of their algorithms. One cool technology that is getting some attention comes from the networking side where market data platforms have traditionally used Ethernet. On March 20, Securities Technology Analysis Center (STAC) published a report examining the performance of the latest software from Wombat Financial Software running
Competition Between Regional Exchanges, Nasdaq/NYSE Heating Up
The key points of my last article were about being nimble, selective, and patient. The two companies that have done this are Knight's Direct Edge and BATS Trading. I have to say that I am surprised they have gained as much traction as they have in such a short period of time, but with the hard work I have witnessed firsthand I am not shocked.
February Market Decline Serves As Wake Up Call
During the brutal market decline of Feb. 27 and the volatility that continued for the next four trading days, hedge funds relied on technology from their brokers, exchanges and service providers to execute orders. To what extent was their trading interrupted and how well did their service providers do?
"I think it was a wake up call for everybody, not only for the hedge funds, but for service providers," says Steven Harrison, president and COO at
Accenture Labs Offers "Training Wheels" for Wealth Managers
In a showcase today, Accenture Technology Labs showed off some of its latest projects. One, a newly developed "intelligent selling" application called Real Time Sales and Service Empowerment, could be used by wealth and asset managers, particularly in departments suffering "brain drain" - where knowledgeable managers are leaving or retiring and younger workers lack experience but are eager to learn. The Accenture application, which it developed with a French bank, is a basic customer relationshi
Salesforce.com Homes in on Wealth and Asset Management
Tien Tzuo, chief strategy officer, and Renny Monaghan, senior director of product management at salesforce.com, dropped in this morning to update us on their hosted solution for customer relationship management (CRM) and related applications. "We're seeing a lot of interest on Wall Street," Tzuo said. "Commissions have dropped, to zero in some cases, so many firms are shifting from a transaction focus to a relationship focus." Tzuo says the first wave of CRM implementations on Wall Street failed
Head Traders Discuss What It Takes to Manage a Trading Desk
Advanced Trading's Randall S. Devere spoke with some prominent head traders about what it takes to manage a trading desk. What quickly emerged is a portrait of a group that has to think well outside the parameters of buying and selling - particularly those who trade for or run their own hedge funds.
The Buy Side Should Get Equal Access to Low-Latency Executions
There is so much focus on low-latency these days, but this has not been so much of a concern for the buy side. This is understandable because most buy-side firms use algorithms hosted by the sell-side, and most of the so-called low latency services coming out are targeted at broker dealers and hedge funds.
But perhaps the buy-side should pay attention to make sure there is a level playing field.
Buy-side firms that are executing trades through broker-sponsored algorithmic trading strategies sh
Unveiling the Trading Floor — 70-Plus Photos
Through "Anatomy of a Trading Floor", we'll be offering our readers a glimpse at the most exciting technology in the industry. You can experience a state-of-the-art trading floor, including close-ups of trading desks, such as institutional sales, currency, special situations, block trading and much more.
Blackberrys That Never Fail
Crackberry addicts who can't put their PDAs down can now buy assurance that they'll never have to -- for technical reasons, anyway. Neverfail, Austin, TX, today announced the first-ever failover solution for Blackberry email and mobile data system applications (called Neverfail for Blackberry Enterprise Server). Why didn't such Blackberry backup exist before? "Making applications cluster-aware isn't a simple task," says John Posavatz, vice president, product management at Neverfail Group, Austin
NASD Gives BrokerCheck a Face Lift
NASD announced today that it has updated and redesigned its BrokerCheck service -- a public, online service for reporting on the background of NASD member-firms. The update, says the regulator, should provide much-needed improvement in the usability and effectiveness of the service. Speaking from experience, the previous version of the
Lobby groups have convinced the SEC to conduct a rare review of market-data fees, reenergizing a spirited debate.
Evaluating CRM Solutions When Companies Merge
Today, most financial organizations already have a CRM solution in place. When two organizations merge -- each with its own preferred relationship intelligence software -- how do they determine which system to use moving forward? A few considerations to keep in mind when evaluating CRM include: