Architects of Electronic Trading

Insights that can help you improve your technology edge Featuring contributions from technology visionaries at leading alternative investors, hedge funds, trading firms, exchanges, and vendors, this book covers current trends in trading technology. The book features interviews with the leaders responsible for the technology that is shaping today's electronic financial markets. You'll hear the views of CIOs, CTOs, and other technology leaders on emerging technologies, innovation in the financial sector, and how technology is enhancing markets in ways other than just speed. Their perspectives on harnessing technology to enhance computing power, reduce time to market, bolster risk management, and much more offer valuable lessons for readers. Includes a wealth of practical insights on how to improve your technology edge Features interviews with leading technology professionals in the financial industry across an array of asset classes and markets Serves as a topical guide to the latest developments, enhancements and applications of technology to tackle trading and risk management challenges Includes insights from top technology professionals on evaluating and adopting technology solutions Looks at the effects of technology on finance professionals and their businesses as well as the global finance industry generally

Foreword vii Acknowledgments xi About the Author xiii Chapter 1 Meet the Architects Agents of Change 1 Chapter 2 Business Challenges Driving New Technology 7 Chapter 3 Laying a Strong Foundation with Transformational Technology 13 Suhit Gupta, Technology Consultant 14 Chapter 4 Hardware Acceleration with FPGAs 23 Jan-Dirk Lueders, CMT, Capital Markets Trading, and Robert Walker, xCelor 24 Chapter 5 GPUs Affordable Desktop Supercomputing 33 Gerald Hanweck, Jr., PhD: Hanweck Associates 34 Chapter 6 Microwaves in Trading Conquering Resistance 45 Mike Persico, CEO and Founder, Anova Technologies 46 Chapter 7 Cloud Computing Moving toward Acceptance 59 Ken Barnes, Options IT 60 Chapter 8 Globalization and Automation Unfinished Business 69 Justin Llewellyn-Jones, Fidessa Corporation 70 Chapter 9 Room for Improvement in Risk Control 81 Mark Gorton, Tower Research Capital 81 Chapter 10 Trading Systems Dealing with Velocity 89 Kevin Kometer, David Hoag, and Ian Wall, CME Group 91 Chapter 11 Technology and Alternatives Benefits of Better Data 99 William Murphy, The Blackstone Group 100 Chapter 12 Data Centers Harnessing Networks 107 John Knuff, Equinix 108 Chapter 13 Evolution The New Revolution in Trading Systems Design 121 Jürg Spillmann and Wolfgang Eholzer, Eurex Exchange 122 Chapter 14 FIX The Power of Standardization 131 W. Brennan Carley, Thomson Reuters 132 Chapter 15 Big Data, Big Opportunities 143 David Siegel, Alan Choyna, and Clara Bonaccorsi, Bottom Line Metrics 144 Chapter 16 Social Media in Trading Making Sense of It 153 Joe Gits, Social Market Analytics 156 Chapter 17 The View from Emerging Markets, China 167 Ming Hua, Southwest Securities Company 168 Chapter 18 Special Focus The Shortage of IT Talent 177 Daryan Dehghanpisheh, NYSE Technologies 178 Conclusion A Call for Continued Education 187 Index 189