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February 2013

GETCO Knight Deal Signals End to HFT Profitability

February 27, 2013 by mikeohara   Comments (0)

As you're probably aware, GETCO - one of the world's largest high frequency trading (HFT) prop shops, is buying Knight Capital. This came about after Knight nearly collapsed when a technical glitch on August 1, 2012 caused it to lose $440 million. While the acquisition is clearly opportunistic, since Knight was so crippled after its August losses, the move also signals GETCO's lack of confidence in the long term profitability of the HFT model, particularly in equities.


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Latency Monitoring with X-Ray Vision

February 26, 2013 by mikeohara   Comments (0)

A few years ago, a client reported latency and blamed our Liquidity Management System. In our lab, the system was working perfectly. We needed to be able to quickly figure out where the latency was occurring in order to identify the cause and fix the system, but it was challenging to replicate the issues. As a consequence, we developped our own monitoring tool, called SmartMV, in order to address specifically the following points.


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Renaissance Capital and GATElab launch Cross-Asset Margining

February 26, 2013 by mikeohara   Comments (0)

GATElab, the multi-asset electronic trading systems provider and part of London Stock Exchange Group, is pleased to announce the successful go-live of Renaissance Capital with three new products. 

  MICEX SELT: HFTS pre-trade Risk Gateways for FX
  FORTS: HFTS pre-trade Risk Gateways for Futures
  Post-TradeCross Asset Margining Module for Equities, Futures and FX

These products complete Renaissance Capital’s full coverage of all Russian liquidity and LSE International Order Book (IOB) stocks through one consolidated ultra-low-latency platform, allowing the cross-asset margining of stocks and futures, and FX positions, in one account.


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Altera to Build Next-Generation, High-Performance FPGAs on Intelâs 14 nm Tri-Gate Technology

February 26, 2013 by mikeohara   Comments (0)

About Intel

Intel (NASDAQ: INTC) is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world’s computing devices. Additional information about Intel is available at newsroom.intel.com andblogs.intel.com.

About Altera

Altera® programmable solutions enable system and semiconductor companies to rapidly and cost effectively innovate, differentiate and win in their markets. Find out more about Altera's FPGAsSoCsCPLDs and ASICs at www.altera.com. Follow Altera via http://www.altera.com/facebook">Facebook, http://altera.simplefeed.net/subscription">RSS and http://www.altera.com/twitter">Twitter, and by subscribing to product update emails and newsletters.


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Rapid Addition Teams with IBM for Ultra-Low Latency

February 25, 2013 by mikeohara   Comments (0)

Low Latency Summit (#LLSLON), London – 19 February 2013: Rapid Addition, the leading provider of trading technology to buy- and sell-side financial institutions, has leveraged  IBM’s (NYSE: IBM) WebSphere MQ Low Latency (WMQ LLM) technology to produce an ultra-low latency, high performance product, for the complete trade life cycle.

For financial firms, providing first-class performance and exceptional reliability has always been a key aspiration, particularly as competition in the market intensifies. The combination of Rapid Addition and IBM’s technology will offer clients improved performance benefits.

The integration of Cheetah, Rapid Addition’s FIX engine, to WMQ LLM, will enable clients to access both optimum speeds all the way through the FIX messaging path and an accelerated return on investment. This tried and certified amalgamation of technologies has demonstrated its superior speed and resilience.

Using Rapid Addition’s Binary FIX message format as the IBM WMQ LLM message payload allowed specific optimisation of The Cheetah FIX engine interface for transmitting and receiving messages over the IBM LLM message bus, it also minimizes latency. FIXML and ASCII FIX present other easy to implement message bus alternatives that still offer exceptional performance.

Gerry Reilly, Director, WebSphere Messaging Development and Customer Support at IBM said: “The combination of our Low Latency Messaging technology with Rapid Addition’s Cheetah FIX engine provides our customers with a best of breed FIX solution for their trading systems. As a result, the enhanced performance will extend and optimise their trading capabilities, and therefore enhance their client’s experience.”

Kevin Houstoun, Chairman, Rapid Addition added: “We are always looking to build on our portfolio of technology partners and IBM is one of the biggest names to add to that. Our work with the firm will continue on into future projects, working together to continually improve overall performance of the joint offering and on other innovative services in the pipeline.”


Notes to Editors:

Exhibiting at Low Latency Summit, stand 102

About Rapid Addition

With clients worldwide, including banks, brokers, corporates, exchanges, hedge funds and investment managers, Rapid Addition is the leading provider of FIX and FAST related software solutions to the global financial community. Company founder and Chairman Kevin Houstoun is the designer of the FIX Repository for FIX Protocol Limited (FPL). Mr Houstoun co-chairs the FPL Global Technical Committee and is an active member of the FPL Global Steering committee. He is also a member of the lead expert group for the UK Government’s Foresight Committee on the future of computer-based trading.

Rapid Addition is a technology partner of Microsoft and founding member of Intel Low Latency Labs. Rapid Addition is the only FIX vendor to continuously test their products in the labs. RA-Cheetah, the flagship FIX engine, gives a consistent low-latency performance and is the only FIX engine to provide this level of consistent measurement. RA-Cheetah™ and GRHub™ run on our advanced low latency GenerationZero™ technology that ensures no garbage collection in both JAVA and.NET. 

For further information, please visit www.rapidaddition.com

About IBM

IBM is a globally integrated enterprise operating in over 170 countries. Today IBM UK has around 20,000 employees, bringing innovative solutions to a diverse client base to help solve some of their toughest business challenges. In addition to being the world's largest IT and consulting services company, IBM is a global business and technology leader, innovating in research and development to shape the future of society at large. IBM's prized research, development and technical talent around the world partner with governments, corporations, thinkers and doers on ground breaking real world problems to help make the world work better and build a smarter planet.

IBM Financial Markets offers a range of solutions and consulting services, ranging from front, middle and back office services, to integrated risk management, market and depositories and financial markets software solutions. 

For further information, please visit www.ibm.com/financialmarkets


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