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The Trading Mesh

Making Waves: Breaking Down Barriers with Ultrafast Networks

In this article, Mike O’Hara and Adam Cox talk to Stéphane Tyč, CEO of network provider McKay Brothers, Tariq Rashid, a long-time data centre executive, and Alexandre Laumonier, market microstructure expert and author of the "Sniper in Mahwah" blog, about the current state of play in the microwave industry.

Microwave transmission of data has been used in the telecommunications industry for decades. So why is there such a renewed level of interest in the technology today, particularly amongst trading firms in the financial markets space? And what are the challenges that firms face when looking to utilise microwave and millimetre wave networks?

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Cleared for launch: A new era for OTC derivatives

In this article, Mike O’Hara talks to Hirander Misra of GMEX, Luke Hickmore of Aberdeen Asset Management, Nomura’s Lee McCormack and Byron Baldwin of Eurex Clearing, about the challenges – and alternatives – facing asset managers as they contemplate central clearing of OTC derivatives in Europe for the first time.

Buy-side users of OTC derivatives face many uncertainties as they prepare for mandatory central clearing in Europe, a requirement that finally comes into force in 2016, but which stems from the G20’s 2009 pledge to reduce systemic risk in the market. So what sort of arrangements do firms, particularly on the buy-side, need to make in order to carry on using interest rate derivatives?

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The User Interface Technology Mess

In this article, Mike O’Hara talks to Olivier Deheurles of Adaptive Consulting, Ash Gawthorp of The Test People, Eddie McDaid of Software AG and Ofer Deshe of Tobias & Tobias, about the current state of front-end user interface (UI) technology in trading platforms, investigating how firms can future-proof their investment in UI development.

Recent years have seen a huge growth in the number of trading applications available on a variety of devices. For the firms that develop these applications, the decision around which technology to use for the user interface can be critical to the success or failure of the product. So how can firms ensure that the front end they build today will continue to satisfy the requirements of their clients tomorrow?

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Risk and Regulatory Reporting: Centralisation is Not the Answer

In this article, Mike O’Hara talks to Steve Willson of Violin Memory, KPMG’s Steven Hall and Rick Hawkins, Stream Financial’s Gavin Slater, and Ash Gawthorp of The Test People, about how banks should evaluate centralised versus federated approaches to intensified post-crisis risk and regulatory reporting requirements.

Regulators these days want information that is fast, detailed, comprehensive and consistent. But meeting new risk and reporting requirements is an all-but-insurmountable challenge for the often-siloed data management infrastructures of banks with diverse business lines across multiple geographies. Are banks better placed to meet these challenges by taking a federated, rather that a centralised approach to data management?

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Getting to Grips with Non-Functional Requirements

In this article, Mike O’Hara talks to Ash Gawthorp of The Test People, and Matt Barrett and Olivier Deheurles of Adaptive Consulting about how critical it can be for companies to take a prudent and careful approach when setting non-functional requirements for new technology

Non-functional requirements can make the difference between game-changing technology and expensive flops. A non-functional requirement doesn’t determine if the product will work, but it can determine if the product will work well. So how can businesses, particularly in ther financial markets industry, make sure their technology will satisfy these requirements? Does the answer have as much to do with mindset as with technological expertise?

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Fixing Fixed Income: Taking a Leaf Out of Social Media’s Playbook

In this article, Mike O’Hara talks to Paul Reynolds of Bondcube, Peter Fredriksson of Baymarkets, Stu Taylor of Algomi and Andrew Bowley of Nomura to discuss ways the financial industry can work with the buy side to address some of the structural problems that have led to chronic illiquidity in the fixed income market, and looks at some of the technology initiatives designed to address these challenges.

Also, from the buy-side perspective, Gianluca Minieri of Pioneer Investments speaks with Mike about the issues buy-side that firms face in today’s fixed income market.

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Our Videos


John Marks, Alex Lashford and Ray Bricknell discuss how microservices can help firms to reap the benefits of the cloud


Jim Timmins, Toby Corbalis and Robert Bath discuss how FIX is moving towards a more cloud-based delivery model


Theo Hildyard of Software AG discuss the impact of streaming analytics on financial markets


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Featured White Papers

A Hybrid Approach to Market Data Feed Handling

In the highly inter-connected electronic trading landscape that underpins today’s financial markets, participants increasingly need to source market data from multiple trading venues reliably, consistently and at high speed. And, in the drive to satisfy their own and their clients’ requirements, firms face a number of choices regarding around technology platforms and architectures. This white paper discusses the benefits of taking a hybrid approach incorporating both hardware acceleration and high performance software.

Click here to read this Celoxica White Paper


How to Certify & Synchronise Time in the Financial Sector

The National Physical Laboratory (NPL), the UK’s national measurement institute, and Intercontinental Exchange (ICE) have carried out a proof-of-concept to assess NPLTime®, NPL’s trusted time service for its suitability in disseminating UTC traceable time, as well as providing compliance for the impending MiFID II regulation. This white paper demonstrates how the solution is perfectly placed to deliver a robust and independent timing standard to the financial sector.

Click here to read this NPL White Paper


Thinking of FPGAs for Trading? Think Again!

In the competitive world of automated trading, deterministic and ultra-low latency performance is critical to business success. In this technical white paper, we share the facts that led our company to shift from developing on specialized hardware to leveraging mainstream technologies. A review of the Xeon® processor, low-latency network adapters, Linux® operating system, and software programming techniques is provided to help design an ultra-low latency solution on mainstream technology.

Click here to read this Redline Trading Solutions White Paper


Case Study: Accelerating Back Testing of Algorithmic Trading Strategies

Algorithmic trading has become ever more popular in recent years – accounting for approximately half of all European and American stock trades placed in 2012. The trading strategies need to be back-tested regularly using historical market data for calibration and to check the expected return and risk. This is a computationally demanding process that can take hours to complete. However, back-testing the strategies frequently intra-day can significantly increase the profits for the trading institution.

Click here to read this Xcelerit Case Study

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