Author Archives: Graham Miller

High-Frequency Trading Doesn’t Need Speed Limits, It Needs A Better Image

High-frequency trading (HFT) could use a good image consultant.  Everyone from Floyd Norris to Chuck Shumer have questioned the validity and even legality of high-frequency strategies, as they have taken over from exchange floor specialists as the mainstream media’s favorite whipping boy.

Unfortunately HFT is a term like “salad” where there are many definitions, and no one covers the entire set.  We define HFT as high-speed, high-volume, low-latency trading enabled by technology. It’s what the Marketcetera platform enables and it’s all about responding quickly to inefficiencies in the market..

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OpenLogic study on commercial open source support

A recent study by OpenLogic found that only 38 percent of enterprises said they were satisfied with the support they received from a commercial open source organization. Despite these low marks for commercial support vendors, respondents still valued open source software—79.2 percent found OSS as good or better than comparable proprietary software. And if we… Continue Reading

Best execution in the world of streams?

As the heat rises in global securities markets, blocks have melted into streams:  trades that were previously executed as one big block of shares are being broken up into a series of smaller trades and reported to a customer at an average price.  Among the most visible evidence of this trend are the precipitous drops… Continue Reading

Marketcetera hits the open road

This morning we had a great conversation with open-source guru Matt Asay. We initially became fans of his insightful editorial work while reading “The Open-Source CEO“, a series of interviews with leaders of open-source companies. During the course of the conversation, we got some great advice about the problems faced by open-source entrepreneurs. Then a… Continue Reading

FAST is fast (and standard)

The days of the proprietary ticker plant are numbered. That’s the direction that Greg Maynard and the rest of the ISE believe the industry is moving. Speaking on Monday at the FIX Protocol Exchanges/ECN Working Group meeting, he was one of 6 exchange representatives speaking in glowing terms of FAST (FIX Adapted for STreaming). FAST… Continue Reading

JRuby 0.9.8

Earlier this month, the JRuby team (headed up by Charles Nutter) released JRuby 0.9.8. See his post for notes on significant improvements on performance and language compliance. For us it was a seamless upgrade for the embedded JRuby engine in Photon. Continue Reading

Java and the Computer Language Shootout

The Java VM is an impressive beast. In theory, features like dynamic optimization and compilation and concurrent garbage collection promise great performance gains. But in benchmarks at the Computer Language Shootout, performance numbers still appear to be lacking. The Computer Language Shootout is good research. Complete disclosure of methods (for maximum reproducibility), an adversarial method… Continue Reading