The Future of Algorithmic Trading
|
|
- Kelly Carroll
- 8 years ago
- Views:
Transcription
1 The Future of Algorithmic Trading Apama Track Dan Hubscher, Principal Product Marketing Manager, Progress Apama Progress Exchange Brasil 2009 Progress Exchange Brasil de Outubro São Paulo Brasil O Mais Importante Evento para a Comunidade Progress no Brasil
2 Apama Background Progress Software (NASDAQ: PRGS) Apama Complex Event Processing Platform Focus on Capital Markets Algorithmic Trading Risk Management Market Making Best Execution Multiple Asset Classes 120+ Global Customers Including Regulators, Exchanges, Banks and Buy Side institutions FI FX Other F&O EQ 2
3 The Capital Markets Trading Community Today Global rise of the alternative venues Market fragmentation Price/speed competition Regulatory drivers RegNMS, MiFID, etc. Volume & volatility Technology arms race Increasing market data The need for speed Automated trading evolution 2004 Broker algorithms News-driven Algorithms Smart Order Routing Proprietary algorithms
4 Global Trends In Algorithmic Trading Source: Aite Group, Futures Trading Platforms OCTOBER 2008 Source: Aite Group, Futures Overview: From Front to Back DECEMBER 2008 "Looking at this from a long- term perspective, once the market stabilizes, we expect [our] projections to hold 1 1 Sang Lee, Aite Group, quoted in Crisis sparks reversal in electronic trading-study, Reuters, Wed Dec 3, 2008: ews/idusn
5 Recent Change & Reactions - Examples Demand For Aggressive Algorithms 2 Appetite remains strong for algorithms as prices of securities continue to swing widely on financial markets Use of algorithms that can move rapidly to grab liquidity is on the upswing Constant tweaking of the most aggressive algorithms to take advantage of changing markets Source: Aite Group, Futures Trading Platforms OCTOBER 2008 Demand for aggressive algorithms is growing primarily because of the markets' current volatility 2 Demand Stays Strong For Aggressive Algorithms, Securities Industry News, June 1, 2009, html 5
6 Algorithmic Trading What & Why Automated trading When to trade Objective: seek alpha Continuously re-calculate analytics Monitor thresholds/rules - Stat arb - Spread - Index arb How to trade Objective: best execution Order execution policy - Slice up orders (wave trade) - Route across liquidity pools (smart order routing) - In market limit + timeouts - Out of market limits ( electronic eye ) 6
7 4 Frontiers of Algorithmic Trading Competition Rapid customization Cross- Algorithmic Speed/latency geography Trading advantage Crossasset class 7
8 Algorithmic Trading Rule WHEN MSFT price moves outside 2% of MSFT Moving Average FOLLOWED-BY ( My Basket moves up by 0.5% AND ( HPQ s price moves up by 5% ALL WITHIN any 2 minute time period THEN BUY MSFT SELL HPQ multiple data streams temporal sequencing complex event sequences real-time constraints automated actions NASDAQ NYSE MSFT Moving Average My Basket 8
9 Modeling Trading Strategies Event Modeler Monitor Spread Orders Placed Orders Filled Orders Timed Out 9
10 Real-time, Event-based Platform for Building Applications Business & IT Tools - Apama Workbench Graphical Development Dashboard Builder Code-based Development Event Modeler Alpha-seeking & execution rules: Crossover Momentum trading Statistical arbitrage Index arbitrage Iceberg VWAP Market participation Order slicing...and more Inputs Market data Orders Any event Actions/Output Orders Derived data Dashboard interaction 10
11 Apama Solution Accelerators Enable rapid development, customization & deployment Rapid customization Specific to key applications Accelerate business value Algorithmic Trading Maintain flexibility 11
12 Apama Solution Accelerators!" Algorithmic Trading Market Surveillance FX Aggregator Smart Order Router Real-time Pricing #$ #... Sub-Systems & Components Market Data Trade Services Position Services Order Book Order Mgmt Status Utilities Risk Firewall % #& '" 12
13 Key Applications Applications Examples Solution Accelerators Customers Algorithmic Trading Alpha Seeking & Execution VWAP, TWAP, etc Multi-Asset, Cross Asset Buy Side, Sell Side, Prop Trading Algorithmic Trading Market Making & Aggregation Liquidity Discovery Market Making Smart Order Routing & Execution Auto Hedging FX Aggregation Surveillance Compliance Risk Management Market Abuse Detection Market Maker Monitoring Op Risk, Business Control Risk Firewall, Auto Hedging Market Surveillance Best Execution Smart Order Routing Aggregated Execution Compliance Smart Order Routing Market Making & Pricing Intelligent Pricing, Skewing, Tiering Market Making Real-Time Pricing 13 13
14 Algorithmic Trading Accelerator Sample Algorithms Alpha-seeking & Execution Cross-asset support Backtesting facility Strategy Design Business & IT Tools Dashboards Pre-built Customizable Integrated CMF Components Exchange simulator Risk & position management Trader P&L Broad Connectivity Market Data & Execution Infrastructure Customizable 14
15 Algorithmic Trading What & Why Automated trading When to trade Objective: seek alpha Continuously re-calculate analytics Monitor thresholds/rules - Stat arb - Spread - Index arb How to trade Objective: best execution Order execution policy - Slice up orders (wave trade) - Route across liquidity pools (smart order routing) - In market limit + timeouts - Out of market limits ( electronic eye ) 15
16 4 Frontiers of Algorithmic Trading Competition Rapid customization Cross- Algorithmic Speed/latency geography Trading advantage Crossasset class 16
17 Algorithmic Trading Rule WHEN MSFT price moves outside 2% of MSFT Moving Average FOLLOWED-BY ( My Basket moves up by 0.5% AND ( HPQ s price moves up by 5% ALL WITHIN any 2 minute time period THEN BUY MSFT SELL HPQ multiple data streams temporal sequencing complex event sequences real-time constraints automated actions NASDAQ NYSE MSFT Moving Average My Basket 17
18 Complex Event Processing Static Data Processing: How many orders were placed for a stock? time ()*! " # 18
19 Real-time, Event-based Platform for Building Applications Business & IT Tools - Apama Workbench Graphical Development Dashboard Builder Code-based Development Event Modeler Alpha-seeking & execution rules: Crossover Momentum trading Statistical arbitrage Index arbitrage Iceberg VWAP Market participation Order slicing...and more Inputs Market data Orders Any event Actions/Output Orders Derived data Dashboard interaction 19
20 Scalability Throughput & Latency Hypertree and Complex Event Sequencer - Millions of rules concurrently through smart algorithms - Determinism Parallel Correlator - Make optimal use of multiple cores Multiple Apama instances in a network Correlators can be plugged together in arbitrary CEP configurations (pipelines, meshes, grids) Event router - Large multi-cpu deployment Enterprise Monitoring & Management - Graphical configuration through a management console 20
21 Parallel Application Development Simple for users 21 High performance smart scheduler Multiple Execution Contexts Advanced Micro threading architecture
22 Apama Platform Performance Throughput & Latency Two test cases to demonstrate latency consistency with varying degrees of computation 1. Simple: Respond to every event with little processing 2. Work: Compute EWMA on price in every event, compare EWMA with price, calculate weighted price and submit order Event rate increased until application is CPU bound Host: Xeon X5570 (Nehalem), 2.93 GHz, Red Hat 5 64-Bit Testcases Event Generator Process 1 2 ) Event Receiver Process 22 Full Round trip (end-to-end) latency
23 Performance Results: Latency Behaviour One millisecond One millisecond Round-trip latency (to & from the Correlator process) is between 100 and 200 microseconds ( milliseconds) and independent of application load 23
24 Algorithmic Trading Buy Side Example Boutique Hedge Fund Limited IT resources Equities and Futures trading Monitors 1500 stock pairs Trades times daily Trade execution in 20 milliseconds Strategies built in Event Modeler Graphical tools put RAD in trader s hands 24 24
25 Algorithmic Trading Sell Side Example Major Scandinavian Bank Client access to Apama strategies Strategy design via Apama s Event Modeler Strategy execution - via Apama graphical dashboards - Via SEB Trading Station Integration with Ullink OMS Expanded Apama use Order flow monitoring Delivers trade compliance 25 25
26 Algorithmic Trading - Brazil Ágora The largest broker in Brazil, deployed the Apama platform to support multi-asset algorithmic trading, leveraging Apama s connectivity to BM&FBovespa Finabank Deployed the Progress Apama Algorithmic Trading Accelerator to supply buy-side clients with a platform for alpha-seeking, statistical arbitrage trading strategies and low latency execution on BM&FBovespa 26
27 Algorithmic Trading Evolution Algorithmic Trading Accelerator Out of the Box Customizable News trading Real-time risk management & market surveillance Trading-in-the-Cloud 27
28 Trading in the Cloud Exchange collocation enables competition in: Cross-geography Speed/latency Rapid customization Software-as-a-Service Quick time to market Minimal investment Crossgeography Algorithmic Trading Speed/latency advantage Cross-asset Hosted class Easy access Optional connectivity to any other trading venues and market data sources Apama Examples CQG Automated execution for commodity & FX futures BGC Algorithmic trading for Fixed Income cash & futures FFastFill Automated futures spread trading & global exchange collocation 28
29 Conclusions Fears of the Black Box If everyone has the same black boxes: no competitive advantage Limited scope to use your skills can only parameterise Trading in competitive markets requires SPEED Build quickly Run fast Markets are continually evolving First Mover Advantage Customization is now KING Create intellectual property for competitive differentiation Custom rules-based trading is critical Trading firms look to Apama for a platform Create trading strategies that exploit their unique trading ideas 29
30 THANK YOU Q&A SESSION CONTACT US Dan Hubscher Principal Product Marketing Manager, Progress Apama Web: Blog: 30
Cross-Asset, Cross-Border Algorithmic Trading
Cross-Asset, Cross-Border Algorithmic Trading Apama Track Dan Hubscher, Principal Product Marketing Manager, Progress Apama Progress Exchange Brasil 2009 Progress Exchange Brasil 2009 21 de Outubro São
More informationValdi for Equity Trading High performance trading solutions for global markets
Valdi for Equity Trading High performance trading solutions for global markets EDA Orders SunGard s VALDI: SOLUTIONS FOR Equity Trading Traders on electronic markets face enormous challenges in maintaining
More informationHow To Understand The Trading Environment In Russia
ACI Russia Global Trends in FX ecommerce Ben Ernest-Jones Solution Architect, Capital Markets Progress Software 17 Oct 2012 Progress Apama Background Progress Software (NASDAQ: PRGS), $500M+ Revenue Apama
More informationWhite Paper Electronic Trading- Algorithmic & High Frequency Trading. PENINSULA STRATEGY, Namir Hamid
White Paper Electronic Trading- Algorithmic & High Frequency Trading PENINSULA STRATEGY, Namir Hamid AUG 2011 Table Of Contents EXECUTIVE SUMMARY...3 Overview... 3 Background... 3 HIGH FREQUENCY ALGORITHMIC
More informationHigh Frequency Trading Volumes Continue to Increase Throughout the World
High Frequency Trading Volumes Continue to Increase Throughout the World High Frequency Trading (HFT) can be defined as any automated trading strategy where investment decisions are driven by quantitative
More informationValdi. Equity Trading
Valdi Equity Trading Valdi EDA Orders VALDI SOLUTIONS FOR EQUITY TRADING Traders on electronic markets face enormous challenges in maintaining and growing their profitability. The drive for greater efficiency
More informationEquities Dealing, Brokerage and Market Making
Equities Dealing, Brokerage and Market Making SEEK MORE Fully informed and ready to trade A whole world of information affects the equity markets economic data, global political events, company news and
More informationTRADING STRATEGIES 2011. Urs Rutschmann, COO Tbricks
TRADING STRATEGIES 2011 Urs Rutschmann, COO Tbricks SEMANTIC CHALLENGE High Frequency Trading Low latency trading Algorithmic trading Strategy trading Systematic trading Speed Arbitrage Statistical Arbitrage
More informationBestXek: Smart Order Routing, Execution Quality Analytics and
BestXek: Smart Order Routing, Execution Quality Analytics and Liquidity Discovery Solution Market Structure is changing globally with liquidity getting fragmented due to introduction of newer, alternative
More informationUntil recently, the majority of
Identifying the real value of algorithms in a fragmented market Charlie Susi* Until recently, the majority of algorithmic trading strategies used in the global marketplace have been created to address
More informationOverview. Integrated Front-mid-back office as well as standalone Front office or Back-office solution or Trading Channels
Securities Trading The adoption of technology is rapidly changing the dynamics of the brokerage industry. The increasing use of smartphones and tablets represent a transformation in the way in which investors
More informationThere is a shortening time cycle in the
Nicholas Pratt Everything is getting faster, it seems. And the faster things get, the shorter they last. Whether this relatively unrefined truism can be applied to FX algorithmic trading remains a moot
More informationThe InstaQuote Solution
The InstaQuote Solution 1 ...a powerful strategic technology asset for today s traders Celadon Financial Group InstaQuote Solution Simple User Interface - Powerful Technology Easy to deploy and simple
More informationORDER EXECUTION POLICY
ORDER EXECUTION POLICY Saxo Capital Markets UK Limited is authorised and regulated by the Financial Conduct Authority, Firm Reference Number 551422. Registered address: 26th Floor, 40 Bank Street, Canary
More informationAlgorithmic trading - Overview. Views expressed herein are personal views of the author
Algorithmic trading - Overview Views expressed herein are personal views of the author Scenario 1 You are a fund manager and have Rs 500 Crores in hand (USD 83 million) to be invested. You have a highly
More informationELECTRONIC TRADING GLOSSARY
ELECTRONIC TRADING GLOSSARY Algorithms: A series of specific steps used to complete a task. Many firms use them to execute trades with computers. Algorithmic Trading: The practice of using computer software
More informationSetting the Scene. FIX the Enabler & Electronic Trading
Setting the Scene FIX the Enabler & Electronic Trading Topics Overview of FIX and connectivity Direct Market Access Algorithmic Trading Dark Pools and Smart Order Routing 2 10,000+ firms use FIX globally
More informationAggregation of an FX order book based on complex event processing
Barret Pengyuan Shao (USA), Greg Frank (USA) Aggregation of an FX order book based on complex event processing Abstract Aggregating liquidity across diverse trading venues into a single consolidated order
More informationAlgorithmic Trading & DMA An introduction to direct access trading strategies.
An introduction to direct access trading strategies. By Barry Johnson Contents Preface Part I An overview of trading and markets XIII 1 1 Overview 1.1 1.2 Fundamentals 1.3 Core execution methods 1.4 Institutional
More informationSAXO BANK S BEST EXECUTION POLICY
SAXO BANK S BEST EXECUTION POLICY THE SPECIALIST IN TRADING AND INVESTMENT Page 1 of 8 Page 1 of 8 1 INTRODUCTION 1.1 This policy is issued pursuant to, and in compliance with, EU Directive 2004/39/EC
More informationSOLUTION BRIEF. TIBCO StreamBase for Foreign Exchange
SOLUTION BRIEF TIBCO StreamBase for Foreign Exchange Table of Contents 3 Venue Connectivity 4 Liquidity Aggregation 4 Market Data Visualization 5 Market Data Distribution 5 Algorithmic Trading, Signal
More informationBernard S. Donefer Distinguished Lecturer Baruch College, CUNY bernard.donefer@baruch.cuny.edu
Bernard S. Donefer Distinguished Lecturer Baruch College, CUNY bernard.donefer@baruch.cuny.edu Principal, Conatum Consulting LLC www.conatum.com donefer@conatum.com 2008 Bernard S. Donefer. All rights
More informationHigh frequency trading
High frequency trading Bruno Biais (Toulouse School of Economics) Presentation prepared for the European Institute of Financial Regulation Paris, Sept 2011 Outline 1) Description 2) Motivation for HFT
More informationFX Trading and Technology Trends 2012
FX Trading and Technology Trends 2012 FX algorithms for trade execution are on the rise and here to stay. With the rapid growth of electronic trading and proliferation of trading platforms, multi-bank
More informationVALDI FOR DERIVATIVES TRADING High performance trading solutions for global markets
VALDI FOR DERIVATIVES TRADING High performance trading solutions for global markets EDA Orders SUNGARD S VALDI: SOLUTIONS FOR DERIVATIVES TRADING New contracts and markets continue to emerge in an extremely
More informationForeign Exchange Contact Group The future of the e-forex. Macalli Louis. Frankfurt, 10th June 2009
Foreign Exchange Contact Group The future of the e-forex Macalli Louis Frankfurt, 10th June 2009 The future of the e-forex From the phone-based FX to the e-forex : main features and short term issues.
More informationFX Trading: The Next Generation FX Trading and Technology Trends in 2010
FX Trading: The Next Generation FX Trading and Technology Trends in 2010 Emily Fraser Voigt, Freelance Journalist Table of Contents 3 FX Trading and Technology Trends in 2010 Survey 5 Broker Systems 7
More informationSELL-SIDE EXECUTION & ORDER MANAGEMENT SOLUTIONS (SSEOMS) A Bloomberg Trading Solutions Offering BE AGILE
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> SELL-SIDE EXECUTION & ORDER MANAGEMENT SOLUTIONS (SSEOMS) A Bloomberg Trading Solutions Offering BE AGILE EXPAND YOUR REACH Bloomberg
More informationHigh Frequency Trading in FX
High Frequency Trading in FX While regulatory scrutiny continues to Figure 2: Electronic Trading Adoption in FX build in the U.S. equity market driven by populist-led political pressures, High Frequency
More informationTrading. Theory and Practice
Professional Automated Trading Theory and Practice EUGENE A. DURENARD WILEY Contents Preface xv CHAPTffi 1 introductiofl to Systematic Tradlns 1 1.1 Definition of Systematic Trading 2 1.2 Philosophy of
More informationValuation, Model and Data Risk Management
Only the curious will learn Valuation, Model and Data Risk Management GARP Caribbean Chapter Meeting, March 28 th 2008 By Philippe Carrel, Reuters, Executive Vice President philippe.carrel@reuters.com
More informationHigh Level Overview of Certain Key Regulatory Changes in Risk Management Trading in Europe *
High Level Overview of Certain Key Regulatory Changes in Risk Management for Electronic Securities Trading in Europe * * This paper presents the interpretation of FTEN. Inc. related to certain issues pertaining
More informationPERFORMANCE STABILITY CONNECTIVITY TIME TO MARKET. A Bloomberg offering
PERFORMANCE STABILITY CONNECTIVITY TIME TO MARKET A Bloomberg offering TRADE WITH A COMPETITIVE EDGE Tango * Ultra-low Latency and Algorithmic Solution Realtime Trading Desktop Functionality Rich Trading
More informationIntelligent Liquidity Access
Liquidity Discovery in Post-MiFID Europe Intelligent Liquidity Access A New Frontier for Electronic Trading in Europe Algorithmic trading is entering the mainstream. Financial institutions are ready to
More informationOne Goal: Best Execution Trading and Services for Broker-Dealers
One Goal: Best Execution Trading and Services for Broker-Dealers UBS Broker Services For more information please contact UBS Broker Services: +1-800-213 2923 +1-212-713 2923 www.ubs.com One Goal: Best
More informationSpeeding trade analytics
Reuters Tick Capture Engine Past, present and precise, tick-by-tick. Whether you are looking to capture and analyze streaming real-time and historical market data for algorithmic execution, bring tested
More informationMIT SDM Conference 2013 A Holistic Approach to Integrating Big Data and Strategy: Lessons from the Financial Services Industry
MIT SDM Conference 2013 A Holistic Approach to Integrating Big Data and Strategy: Lessons from the Financial Services Industry Troy Hamilton October 10, 2013 Welcome SDM 97 Fellow Today October 25, 2001
More informationHIGH VELOCITY VOLUME COMPLEXITY. Addressing the challenges of Big Data in FX
HIGH VELOCITY VOLUME COMPLEXITY Addressing the challenges of Big Data in FX The big data challenges that face traders in foreign exchange are the sheer volume of trading, amount of data and number of execution
More informationThis paper sets out the challenges faced to maintain efficient markets, and the actions that the WFE and its member exchanges support.
Understanding High Frequency Trading (HFT) Executive Summary This paper is designed to cover the definitions of HFT set by regulators, the impact HFT has made on markets, the actions taken by exchange
More informationHigh Frequency Trading Background and Current Regulatory Discussion
2. DVFA Banken Forum Frankfurt 20. Juni 2012 High Frequency Trading Background and Current Regulatory Discussion Prof. Dr. Peter Gomber Chair of Business Administration, especially e-finance E-Finance
More informationFESE Input to the Commission High Frequency Trading
FESE AISBL Avenue de Cortenbergh, 52 B-1000 Brussels VAT: BE0878.308.670 Tel.: +32 2 551 01 80 Fax : +32 2 512 49 05 FESE Input to the Commission High Frequency Trading Brussels, 23 February 2010 General
More informationNDD execution: NDD can help remove the conflict of interest >>> providing a confl ict free environment for Retail FX traders CLIENT.
The Broker team NDD execution: providing a confl ict free environment for Retail FX traders In forex trading, the electronic execution engine used by Non Dealing Desk (NDD) brokers provides traders with
More informationAlgorithmic Presentation to European Central Bank. Jean-Marc Orlando, EFX Global Head BNP PARIBAS
Algorithmic Presentation to European Central Bank Jean-Marc Orlando, EFX Global Head BNP PARIBAS 1 What s all the BUZZ about Algorithmic Trading /efx? 2 Why is Algorithmic Trading Exploding in the industry?
More informationTo develop and deploy mission critical software products and solutions for the securities and related financial services sector.
1 Omnesys Profile Vision To develop and deploy mission critical software products and solutions for the securities and related financial services sector. Offices at Bangalore, Mangalore, Kolkatta, Delhi
More informationAlgorithmic Trading: Attracting The Buy Side
June 2009 ElectronicTrading presents Algorithmic Trading: Attracting The Buy Side A-TeamGroup Whether they accept it or not, sell-side institutions are finding themselves in the unfamiliar role of information
More informationA practical guide to FX Arbitrage
A practical guide to FX Arbitrage FX Arbitrage is a highly debated topic in the FX community with many unknowns, as successful arbitrageurs may not be incentivized to disclose their methodology until after
More informationAchieving Nanosecond Latency Between Applications with IPC Shared Memory Messaging
Achieving Nanosecond Latency Between Applications with IPC Shared Memory Messaging In some markets and scenarios where competitive advantage is all about speed, speed is measured in micro- and even nano-seconds.
More informationFX Trading and Technology Survey 2014
FX Trading and Technology Survey 2014 EXECUTIVE SUMMARY Regulation is a top concern and major catalyst for change in the FX market. This view reflects the uncertainties and pressures placed on businesses
More informationMARKETMAP Innovative, global, cost-effective market data
MARKETMAP Innovative, global, cost-effective market data MarketMap Solutions MarketMap Provides flexible, cost-efficient access to comprehensive, global, real-time and historical data, news and analytics
More informationMillennium Exchange. Fast, flexible, multi-asset trading engine
Millennium Exchange Fast, flexible, multi-asset trading engine To thrive in the current environment, you need a trading platform that moves as quickly as you do. Innovation is power Millennium Exchange
More informationAlgorithmic Trading with MATLAB Martin Demel, Application Engineer
Algorithmic Trading with MATLAB Martin Demel, Application Engineer 2011 The MathWorks, Inc. 1 Agenda Introducing MathWorks Introducting MATLAB (Portfolio Optimization Example) Introducting Algorithmic
More informationEmpower Mobile Algorithmic Trading Services with Cloud Computing
Empower Mobile Algorithmic Trading Services with Cloud Computing Junwei Ma Southwestern University of Finance and Economics Abstract: Mobile devices can offer real time connection to stock exchange market
More informationOptimizing High-Performance Trading Solutions: An Engineering Perspective
Optimizing High-Performance Trading Solutions: An Engineering Perspective Matt Davey, CTO, Lab49 (www.lab49.com) Blog: http://mdavey.wordpress.com April 2011 V0.84 About Lab49 Lab49 is a strategy, design
More informationASSET AND INVESTMENT MANAGER (AIM) A Bloomberg Trading Solutions Offering BE AGILE
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> ASSET AND INVESTMENT MANAGER (AIM) A Bloomberg Trading Solutions Offering BE AGILE EXPAND YOUR REACH Bloomberg Trading Solutions delivers
More informationHigh-frequency traders have
The impact of high frequency trading on algorithms and smart order routing Andrew Morgan* High-frequency traders have recently found themselves at the centre of the financial media s attention in relation
More informationHow To Build A Trading Engine In A Microsoft Microsoft Matlab 2.5.2.2 (A Trading Engine)
Algorithmic Trading with MATLAB Martin Demel, Application Engineer 2011 The MathWorks, Inc. 1 Challenges when building trading strategies Increasing complexity More data More complicated models Increasing
More informationSOLUTION BRIEF. TIBCO StreamBase for Algorithmic Trading
SOLUTION BRIEF TIBCO StreamBase for Algorithmic Trading Table of Contents 3 TIBCO StreamBase for Algorithmic Trading 4 Attributes and Capabilities 5 End-to-End Connectivity 5 Integration with Existing
More informationInformatica Ultra Messaging SMX Shared-Memory Transport
White Paper Informatica Ultra Messaging SMX Shared-Memory Transport Breaking the 100-Nanosecond Latency Barrier with Benchmark-Proven Performance This document contains Confidential, Proprietary and Trade
More informationThe Next Generation of Execution Consulting Services: Leveraging Technology to Build Relationships
The Next Generation of Execution Consulting Services: Leveraging Technology to Build Relationships Early access to this report is provided with the compliments of StreamBase Systems TABLE OF CONTENTS EXECUTIVE
More informationsmarttrade s FX trading system
TM smarttrade s FX trading system LiquidityFX Multi Platforms Single Dealer Platforms Distribution FIX API Platform Bridges White Label/HTML5 UI Pricing Skews & Spreads Liquidity Shaping Client Markups
More informationEE ALL IDES A GLOBAL NETWORK OF FINANCIAL INFORMATION, BUSINESS INTELLIGENCE, PEOPLE AND IDEAS
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> A GLOBAL NETWORK OF FINANCIAL INFORMATION, BUSINESS INTELLIGENCE, PEOPLE AND IDEAS EE ALL IDES WELCOME / / / / / / / / / / / / / / / / / / / / /
More informationComplex Event Processing with Coral8
Building Distributed Applications Complex Event Processing with Coral8 Applies to: Financial Services Architecture.NET Framework Abstract This paper describes how Coral8 complex event processing software
More informationFI report. Investigation into high frequency and algorithmic trading
FI report Investigation into high frequency and algorithmic trading FEBRUARY 2012 February 2012 Ref. 11-10857 Contents FI's conclusions from its investigation into high frequency trading in Sweden 3 Background
More informationFast Trading and Prop Trading
Fast Trading and Prop Trading B. Biais, F. Declerck, S. Moinas (Toulouse School of Economics) December 11, 2014 Market Microstructure Confronting many viewpoints #3 New market organization, new financial
More informationMarket Trends in Finance & Technology / An Open Platform for Business Growth
Market Trends in Finance & Technology / An Open Platform for Business Growth Brennan Carley, Global Head of Enterprise Platform and Analytics November 2015 Agenda The market Regulation An open and agile
More informationalgorithmic & program trading services
algorithmic & program trading services Featuring the Abel/Noser Signature Algorithm Series Institutional Agency Execution and Trade Analytics algorithmic & program trading services * Abel/Noser has offered
More informationFX Trading: A Changing Landscape
FX Trading: A Changing Landscape FX Trading and Technology Trends in 2011 1 This report is based on an online survey conducted by StreamBase Systems in 2011. Overview Rules of swap trading regulations
More informationTRADE ORDER MANAGEMENT SOLUTIONS (TOMS) A Bloomberg Trading Solutions Offering BE AGILE
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> TRADE ORDER MANAGEMENT SOLUTIONS (TOMS) A Bloomberg Trading Solutions Offering BE AGILE EXPAND YOUR REACH Bloomberg Trading Solutions
More informationFrom Traditional Floor Trading to Electronic High Frequency Trading (HFT) Market Implications and Regulatory Aspects Prof. Dr. Hans Peter Burghof
From Traditional Floor Trading to Electronic High Frequency Trading (HFT) Market Implications and Regulatory Aspects Prof. Dr. Hans Peter Burghof Universität Hohenheim Institut für Financial Management
More informationFuture of the Trading Platform
Future of the Trading Platform Associate General Manager Capital Market Services Narayanan V Introduction The stage is set for some major changes in trading in the years to come. One glimpse at the trading
More informationCROSS INDUSTRY PegaRULES Process Commander. Bringing Insight and Streamlining Change with the PegaRULES Process Simulator
CROSS INDUSTRY PegaRULES Process Commander Bringing Insight and Streamlining Change with the PegaRULES Process Simulator Executive Summary All enterprises aim to increase revenues and drive down costs.
More informationGILE BLOOMBERG TRADING SOLUTIONS
> > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > BLOOMBERG TRADING SOLUTIONS E GILE ABOUT BLOOMBERG Bloomberg is the world
More informationMillennium SOR. Fast. Flexible. Robust.
Millennium SOR Fast. Flexible. Robust. Millennium SOR Millennium SOR offers a single platform capable of housing multiple asset classes, numerous order routing algorithms and pre-trade risk control mechanisms.
More informationEXECUTION MANAGEMENT SYSTEM
EXECUTION MANAGEMENT SYSTEM Bloomberg s Execution Management System, EMSX, is a sophisticated, broker-neutral trading tool that allows you to route seamlessly to nearly 2,000 broker-dealer destinations,
More informationIsolating the real merits of fully outsourced hosting and FX connectivity services
Isolating the real merits of fully outsourced hosting and FX connectivity services Opportunities in FX trading are enormous, but the risks are also considerable. In the current low volatility environment,
More informationAlgo Flagging How to meet the regulatory requirements? Member communication on Algo Flagging according to the German HFT Act
Algo Flagging How to meet the regulatory requirements? Member communication on Algo Flagging according to the German HFT Act Version 1.2 March 2014 1 Agenda 1. Motivation 2. Legal background 3. Guidelines
More informationPURE ALGORITHMIC TRADING SOLUTIONS
PURE ALGORITHMIC TRADING SOLUTIONS WHEN TACTICS OVERWHELM STRATEGY Technology and sophisticated trading tools help traders find the best trading venues. In a fragmented environment, however, traders risk
More informationEnhance Service Delivery and Accelerate Financial Applications with Consolidated Market Data
White Paper Enhance Service Delivery and Accelerate Financial Applications with Consolidated Market Data What You Will Learn Financial market technology is advancing at a rapid pace. The integration of
More informationStreamBase White Paper Real-Time Profit & Loss
StreamBase White Paper Real-Time Profit & Loss n Can Real-Time Profit and Loss tame the turbulent markets? By Bob Giffords Independent Banking and Technology Analyst and Mark Palmer President and Chief
More informationLightspeed Gateway Overview Document
Lightspeed Gateway Overview Document Version 1.00 September 30, 2009 I. INTRO Lightspeed s algorithmic-based trading platform, Lightspeed Gateway, provides active traders, proprietary trading groups and
More informationMan vs Machine: Coping with the Changing Face of Financial Technology. Pierre FELIGIONI Head of Real Time Product Strategy S&P Capital IQ
Man vs Machine: Coping with the Changing Face of Financial Technology Pierre FELIGIONI Head of Real Time Product Strategy S&P Capital IQ Time Of Change : from Human Based Trading to Automated Trading and
More informationTrading at the Speed of Light
Trading at the Speed of Light How Intelligent Network Monitoring Delivers the Low Latency and High Speed Required by High-Frequency Traders Sponsored by 2014 APCON, Inc. All Rights Reserved. 14047-R1-0614
More informationFX Trading: A Changing Landscape FX Trading and Technology Trends in 2011
FX Trading: A Changing Landscape FX Trading and Technology Trends in 2011 OVERVIEW Rules of swap trading regulations in the Dodd-Frank Act are expected to be finalized in 2011. As the initial deadline
More informationValdi. Algorithmic trading: a complex map. By Benjamin Becar, Product Manager, Valdi Algorithms, SunGard s global trading business
Valdi White PAPER SERIES Algorithmic trading: a complex map By Benjamin Becar, Product Manager, Valdi Algorithms, SunGard s global trading business table of contents 3 Introduction 3 Automated trading
More informationIntroduction to Trading
Introduction to Trading Certificate Programme The Introduction to Trading programme provides participants with market practice and hands on trading, which will immerse the delegate in the world of dealing.
More informationMarket Making and Liquidity Provision in Modern Markets
Canada STA 2015 Market Making and Liquidity Provision in Modern Markets Phil Mackintosh 2 What am I going to talk about? Why are Modern Markets Important? Trading is now physics at the speed of light Jan
More informationAlgorithmic Trading: Attracting The Buy Side
June 2009 ElectronicTrading presents Algorithmic Trading: Attracting The Buy Side Whether they accept it or not, sell-side institutions are finding themselves in the unfamiliar role of information technology
More informationHEDGE FUND PORTFOLIO MANAGEMENT FRONT ARENA
HEDGE FUND PORTFOLIO MANAGEMENT FRONT ARENA FRONT ARENA FOR HEDGE FUNDS REAL TIME PORTFOLIO AND RISK MANAGEMENT The pressure has never been higher to find software solutions able to adapt to the changing
More informationBLOOMBERG FOR EXECUTION MANAGEMENT
EMSX FIXNET BTCA BLOOMBERG FOR EXECUTION MANAGEMENT JUN // 27 // 2012 EMSX CONTACT DETAIL 2»Janos Renz-Hotz jrenzhotz@bloomberg.net +44 (0) 207 673 2057 +44 (0) 782 725 4400»Help Help from within EMSX
More informationEvolution of the Trading Technological Infrastructure in the Mexican Stock Exchange
Evolution of the Trading Technological Infrastructure in the Mexican Stock Exchange Dr Enrique Ibarra Senior Vice President of Technology November 21, 2011 WFE - MIT Exchange Technology Workshop 2011 Accelerated
More informationTIBCO Live Datamart: Push-Based Real-Time Analytics
TIBCO Live Datamart: Push-Based Real-Time Analytics ABSTRACT TIBCO Live Datamart is a new approach to real-time analytics and data warehousing for environments where large volumes of data require a management
More informationMANAGE RISK WITH CONFIDENCE
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> ENTERPRISE RISK Bloomberg Trading Solutions MANAGE RISK WITH CONFIDENCE >>>>> SHARPEN YOUR VIEW Managing risk is more critical than ever. And more
More informationtran scend tran-sénd verb [trans.] to go beyond or rise above (a limit), to be greater than (something ordinary).
tran scend tran-sénd verb [trans.] to go beyond or rise above (a limit), to be greater than (something ordinary). At Transcend Capital, we have earned our reputation for integrity, honesty and accountability
More informationMachine Learning and Algorithmic Trading
Machine Learning and Algorithmic Trading In Fixed Income Markets Algorithmic Trading, computerized trading controlled by algorithms, is natural evolution of security markets. This area has evolved both
More informationCapital Markets Linkages Experiences, Challenges and Solutions Philippe Carré
Capital Markets Linkages Experiences, Challenges and Solutions Philippe Carré Global Head of Connectivity SunGard Global Trading September 2011 SunGard, our History 1982 2005 Today Founded in 1982 Went
More informationMANAGING RISK ACROSS THE TRADING LIFECYCLE. Progress Apama. Progress ObjectStore. Progress Artix. Progress Artix
Progress Sonic Progress Orbacus Progress Apama Progress ObjectStore Progress W H I T E P A P E R DataXtend Progress Artix > Progress Artix MANAGING RISK Data Services ACROSS THE TRADING LIFECYCLE Today
More informationAlgorithmic and advanced orders in SaxoTrader
Algorithmic and advanced orders in SaxoTrader Summary This document describes the algorithmic and advanced orders types functionality in the new Trade Ticket in SaxoTrader. This functionality allows the
More informationChinese University of Hong Kong Conference on HKEx and the Market Structure Revolution
Chinese University of Hong Kong Conference on HKEx and the Market Structure Revolution The Impact of Market Structure Changes on Securities Exchanges Regulation 31 March 2012 Keith Lui Executive Director,
More informationFind the Hidden Signal in Market Data Noise
Find the Hidden Signal in Market Data Noise Revolution Analytics Webinar, 13 March 2013 Andrie de Vries Business Services Director (Europe) @RevoAndrie andrie@revolutionanalytics.com Agenda Find the Hidden
More informationLow-latency market data delivery to seize competitive advantage. WebSphere Front Office for Financial Markets: Fast, scalable access to market data.
Low-latency market data delivery to seize competitive advantage WebSphere Front Office for Financial Markets: Fast, scalable access to market data. Data from SIAC, NASDAQ and NYSE indicates a 158% increase
More information