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The Trading Mesh

September 2011

ULLINK, Fiberblaze and FPGA-Based NICs for Pre-Trade Risk

September 28, 2011 Comments (0)           

Readers who enjoyed our recent interview with Matt Dangerfield of Fixnetix, discussing their FPGA-based iX-eCute chip and our earlier article from David Quarrell about other potential uses for FPGA technology in HFT, may be interested to read a press release that arrived in my inbox today, announcing that ULLINK will be using an FPGA-based Network Interface Card from Fiberblaze to power its UL IRIS+ pre-trade risk product.
This is just further evidence that FPGA-based...

How to Run 20-plus Pre-Trade Risk Checks in Under a Microsecond

September 20, 2011 Comments (0)           

An Interview with Matt Dangerfield
With the recent introduction of SEC rule 15c3-5 (which requires all firms who provide sponsored access or DMA to ensure their clients’ orders go through adequate risk controls), vendors and service providers have been bringing some increasingly innovative solutions to market to help firms comply. However, forcing orders to go through pre-trade risk controls generally adds latency. So how can that latency be kept to an absolute minimum?
Front office...

HFT Is NOT Responsible for Market Volatility You Are!

September 14, 2011 Comments (1)           

This is a Guest post by Manoj Narang, Founder and CEO of Tradeworx Inc
In recent months, a plethora of articles have remarked on elevated levels of market volatility, while simultaneously pointing out that computers generate an ever-growing share of the market’s volume.  The implication, or in some cases, outright accusation, is that the latter is the cause of the former.  While the recent front-page New York Times article on this topic refrains from...

The Good and Bad of HFT and The Importance of Consistent, Informed Regulation

September 9, 2011 Comments (2)           

An Interview with Hirander Misra

In this interview for the High Frequency Trading Review, Mike O’Hara talks to Hirander Misra, who is well-known in the electronic trading world as co-founder of Algo Technologies and a founding Director of the phenomenally successful MTF, Chi-X Europe.
Earlier this year, Hirander founded Misra Ventures (http://www.misraventures.com), an independent consultancy involved in electronic trading advisory related to product development, market...

The Future of Computer Trading in Financial Markets Working Paper

September 8, 2011 Comments (0)           

In November last year, the UK Government’s Department of Business, Innovation & Skills put together a Foresight Project to look into the future of computer trading in Financial Markets, led by the Government’s Chief Scientific Adviser, Professor Sir John Beddington.
The group has just released its initial Working Paper, which you can download here:
Foresight project Working Paper Sep 2011
In the coming weeks, we’ll be providing some detailed analysis of these initial...