Tag: electronic trading

Standing Room Only in Hong Kong: Low Latency is High Priority

I created this video while I was in Hong Kong last week for Trading Architecture Asia.  The audio isn’t that great unfortunately, so we’ve transcribed the commentary which you see below (its also on TabbFORUM). …and the transcription: This week I’m in Hong Kong for Trading Architecture Asia 2010. If it’s a sign, almost every […]

SEF 101: Deconstructing the Swap Execution Facility

Also posted at TabbFORUM.com and submitted to the CFTC. The term “Swap Execution Facility” (SEF) has been formally christened and will henceforth be a part of OTC derivatives vernacular.  Yet to be determined, however, is whether SEF will become merely a new label for existing businesses or conversely an open door for competition, innovation and […]

Regulators may silence derivative squawk boxes (Financial Times)

With the financial reform bill officially law its time to get down to details.  One big area in need of clarity is OTC derivative executions which includes the soon to be defined Swap Execution Facility.  This FT article goes through the ins and outs and winners and losers when it comes to SEFs.  My comment […]

TABB Says Long-Distance, Low-Latency Networking Increasingly Critical To Trading (TABB Group)

This is the PR on my latest two reports on optical networking and its role in financial services.  Also check out the executive summary here. North American Financial-Services Firms to Spend $2.2 Billion in 2010 on Connectivity Two New Research Reports Reveal the Dividing Line between Data-Center and Optical Networking for Capital Markets is Seen […]

The Low-Latency Imperative: How Fast Is Fast Enough? (WS&T)

Good article talking about what latency really is and what to think about when trying to measure true end-to-end latency in the trading process.  I think for the top end of the market the only way to reduce latency further is through hardware.  My quote: When evaluating latency, it’s vital to consider all of the […]

A Rude Awakening for OTC Derivative Executions: Buying a Bandwagon Seat

Also posted at TabbFORUM.com The current execution landscape for OTC derivatives is in for a rude awakening.  Index CDS and the most liquid interest rate swaps (2-, 5-, 7- and 10-year) are set to move into a world of high speed messaging and even higher speed analytics.  Many have already discussed how an expected execution […]

Reforms may help some brokers (The Hill)

It is inevitable that some portion of the OTC derivative market will see an execution mandate.  I have been an outspoken believer that this change will happen at the hand of Swap Executions Facilities (SEF) much more so than traditional exchanges.  This article in the Hill discusses the political angle of this move towards an […]

Managers seek low latency trading venues (Financial News)

Its not new news that exchanges are increasingly touting the low latency of their infrastructure as a reason to trade with them.  This article has a few good stats as to what low latency actually is: Kevin McPartland, senior analyst at financial markets research firm Tabb Group, said: “Top US equity exchanges are matching orders […]