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Can buy-side be sold on the benefits of low latency?

March 2, 2012 by mikeohara   Comments (0)

In the world of capital markets, the term low latency isn’t new. When we think about exactly who is benefiting from real-time updates, the sell-side investment banks, brokerage firms who are selling assets, securities or the latest derivative typically come to mind. We do not usually associate the advising institutions directly focused on buying - such as private equity firms or asset managers - with high speed trading. Traditionally, the buy-side has adopted a more cautious approach, focusing on how much return can be achieved  from the risk outlaid in the initial trade by going through the normal sales trader route. But is this about to change? Are we about to see asset management firms turning their attention to a more automated route that requires ultra low latency capabilities?

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France Releases Details of Financial Transaction Tax

March 2, 2012 by mikeohara   Comments (0)

On February 8, 2012, the French cabinet approved a proposed financial transaction tax (FTT).The proposal will now be considered by the French parliament and, if passed, will imposetaxes on certain transactions in shares and other financial instruments, as well as on highfrequency trading (HFT).

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CPU vs FPGA - make RAM the new disk!

March 2, 2012 by mikeohara   Comments (0)

I had a great conversation with Rolf Andersson of Pantor last week and the discussion turned to FPGAs and their use in High Performance Trading. I've seen them being used as "circuit breakers" for in-flow risk checking and some limited algo trading but Rolf has seen some sophisticated algos being used on complex FPGAs. At a recent discussion of FIX trading engine performance Ben Stephens described how Nomura is committing to FPGA development. Things are changing in low latency infrastructure space for example, SolarFlare, the low latency network folks, have discussed adding a FPGA to their NICs. Rolf's observations was that software programmers were responding to the FPGA challenge by becoming sensitive to the CPU design and now describe RAM as the new disk!

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Things worth reading: 2nd March 2012

March 2, 2012 by skinnercm   Comments (0)

Things we're reading today include ...

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Max Eagye - Altegris [INTERVIEW]

March 1, 2012 by Ron Sebonia   Comments (0)

Max Eagye is a director of Altegris Clearing Solutions, a San Diego-based introducing broker specializing segregated managed account services for institutional clients, family offices, commodity pools, hedge funds and mutual funds. John Lothian News Editor-at-Large Doug Ashburn spoke with Eagye about the Altegris family of affiliated companies, ManagedFutures.com, and emerging issues and trends in the managed futures space.

Disclaimer: Altegris Clearing Solutions, a registered introducing broker and CTA, and NFA member, introduces customer accounts to futures commission merchants, recommends a platform of futures trading programs and provides futures consulting services. Altegris Clearing Solutions and its affiliates (the Altegris Companies) are wholly owned subsidiaries of Genworth Financial, Inc. (NYSE: GNW). The Altegris Companies have a financial interest in the products they sponsor, advise and/or recommend, as applicable. Depending on the investment, the Altegris Companies and their affiliates and employees may receive sales commissions, a portion of management or incentive fees, investment advisory fees, 12b-1 fees or similar payment for distribution, a portion of commodity futures trading commissions, margin interest and other futures-related fee revenue, and/or advisory consulting fees. Futures and options trading involve risk. Past results are no indication of future performance.

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