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The Trading Mesh

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Discovering the Web's Hidden Alpha

June 29, 2014 by Eagle Alpha   Comments (0)           

How the buyside can make full use of online information

Wall Street has been hesitant to adopt the web as a source of information despite an emerging awareness of the value it represents. This is primarily due to the significant amount of noise on the web and compliance concerns.

Massive amounts of data are being generated every minute, and the pace of data creation is accelerating. In fact, an IDC Digital Universe study finds that the world’s information doubles about every year...

Higher hurdles for smaller firms?

June 27, 2014 by Regulation Matters (Fidessa)   Comments (0)           

By Christian Voigt
Direct market access (DMA) forms a significant part of the market given the regulatory hoops and high fixed costs that a full exchange membership implies. While today large trading firms may let their existing memberships to smaller trading firms, similar to a company sub-letting spare office space, the current MiFID II discussion paper suggests that the well-established DMA model may face some threats. For example, ESMA wants DMA providers to apply to their DMA clients...

An eye on the 'new normal’ – the latest video from FidessaVision

June 17, 2014 by Fidessa   Comments (0)           

The effects of the global financial malaise are receding. IPOs are up. M&A is up.
On the surface, it might seem that the economy is returning to the ‘good old days’. But the pre-2008 days are gone for good – the crisis has fundamentally changed the landscape of financial markets. Firms thinking they can return to doing business the old way will suffer. Costs need to be brought down - permanently. The firms that flourish will be those that radically rethink their...

Performance Considerations in FX Trading Platforms

June 16, 2014 by The Trading Mesh   Comments (0)           

In this article, Mike O’Hara, publisher of The Trading Mesh, talks to Ash Gawthorp of The Test People, Matt Barrett of Adaptive Consulting, Andy Phillips of LMAX Exchange and Dan Marcus of ParFX about how technology challenges - particularly around performance – are being addressed as both the retail and the professional FX trading sectors adopt new trading platforms.
The Foreign Exchange (FX) market is the most heavily traded market in the...

Build vs Buy becomes Rent vs Collaborate

June 12, 2014 by Fidessa   Comments (0)           

This article was originally published at the Fidessa blog, and is reproduced here with permission. By Steve Grob

An interesting couple of days at the International Derivatives Expo in London this week. Alongside the usual debate on OTC clearing, algo tagging and other regulatory conundrums, I was on a panel looking at the changing face of vendor relationships. What is evident is that the build vs buy debate has reached a new dimension as the economics of the FCM business,...

London’s Innovating Enterprises Helping Derivatives Traders

June 9, 2014 by Volta   Comments (0)           

2014 is commonly recognised as ‘crunch year’ with new asset classes being systematically pushed onto regulated exchanges as part of the G20 drive towards increased transparency in financial markets.  Investors managing those asset classes, including OTC derivatives traders, have to grapple with the best way to undergo this transition.  The ultimate result of these recent regulations, such as EMIR, MiFID II and Dodd-Frank, is a rush by asset management firms towards...

Free Resource: Continuous Testing Infographic

June 9, 2014 by Jacob Northey   Comments (0)           

Infographic: Continuous Testing
The electronic trading industry has suffered a rash of system failures over the past few years – and each has pointed to the need for more testing. Time and again it has been shown that the risk of not investing in testing is too large to ignore, yet this process is still overlooked and has gone largely unchanged for close to 20 years. Those who have built substantial automated test environments know that automating this process is not always a silver...

Fast, Smart and Integrated – The New Trading Ideal

June 2, 2014 by Software AG   Comments (0)           

By Theo HildyardLife cannot be easy for those in the low latency trading game right now. In recent months - and particularly since the publication of Michael Lewis’s “Flash Boys” - we have seen a marked increase in the scrutiny of high frequency trading by regulators, politicians, the media and even law enforcement agencies.
Regardless of the outcome of all of this, the fact is that firms relying on pure speed to gain an advantage are suffering from diminishing returns. Many...

FPGA – Beyond Market Data

June 2, 2014 by The Trading Mesh   Comments (0)           

In this article, Mike O’Hara, Publisher of The Trading Mesh, talks to Mike Schonberg of Quincy Data, Laurent de Barry and Nicolas Karonis of Enyx and Henry Young of TS-Associates, about how and where FPGA technology is increasingly being used in low-latency trading operations, beyond the traditional areas of market data acquisition and distribution. 
FPGA (Field Programmable Gate Array) technology, having been used by latency-sensitive practitioners in the financial...

When Speed is Not the Only Factor

May 15, 2014 by The Trading Mesh   Comments (0)           

Regular followers of The Trading Mesh will be aware of the fact that we often talk about FPGAs (Field Programmable Gate Arrays) and their use in the high performance trading logistics chain, particularly in the areas of market data distribution and, increasingly, order handling. In fact, a whole section of The Trading Mesh website is dedicated to the use of FPGA technology in trading.
However, it’s interesting to note that there are some technology vendors who are taking a...