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Automated Trader Update: Terrible, terrible pauses

First Published 18th July 2014

Automated Trader investigates in-memory technologies, Azul systems on Java pauses, US & UK Industry bodies request input, Surveys from Aite & SunGard, and Confluence, Quantopian introduces Algo builder, Interactive Data upgrades eSignal, ITG FX Trading Cost Index Application debuts, Spotex chooses Solace, Traiana's CreditLink adds kill switch, Options and Orchestrade partner, Broadridge introduces Report Manager. EBS, Liquidnet, and Calastone announce appointments.

We take it for granted that the newest information is constantly accessible, now. This week, we examine how this shift is affecting developers, who are expected to programme in "real-time" and with ever diminishing latencies in mind. Panel experts say it can be done - in-memory technologies being at the forefront of solutions. But there are caveats.

After the panel, we spoke with Gil Tene, CTO of Azul Systems, about Java's "terrible, terrible pauses" in a deterministic world - make sure to check out the video.

In regulation, it's all about consultation....

ESMA launched a consultation on the new Market Abuse Regulation scheme; and released public hearing recordings of last week's Paris open hearings on MiFID II. ESMA is also seeking new members for its Post Trading Consultative Working Group.

FINRA published a targeted examination letter on order routing and execution quality of customer orders. SIFMA issued its equity market structure recommendations. And the Financial Stability Board published an interim report for public consultation on foreign exchange rate benchmarks.

Not to be outdone, the UK's FCA sent around its own call for inputs, and colocation is in the spotlight. Next week we'll take a look at what that might mean for market players.

Industry News

US Secretary Jack Lew spoke on Cybersecurity at the Delivering Alpha conference in New York.

As the 22nd July deadline for AIFMD approaches a survey from Confluence concluded that one-third of fund managers remain unprepared; similarly Aite & SunGard research found global asset managers' operations under pressure from diversification and data demands. Meanwhile ex-regulators at Newgate Compliance launched bespoke compliance service The GATEway.

The CFTC's O'Malia said 'Regulators must first do no harm' in a speech to the Quadrilateral Meeting.

Senator Carl Levin called on the SEC for immediate elimination of the maker-taker system. Click here for Maker-taker in the cross hairs - Automated Trader's report of the initial Senate hearing.

Meanwhile, following the June release of the SEC's directive for a new tick-size pilot, KCG asked: Who Gets the Short End of the 'Tick?

Products and Services

Quantopian introduced its no-code 'quick start' Algorithm Builder.

Interactive Data announced eSignal 12.0.

In FX news this week ITG launched the ITG FX Trading Cost Index Application providing liquidity costs for 20 currency pairs; Spotex chose Solace Systems for FX trading; and Traiana added kill switch capability to CreditLink for single dealer platforms.

Options and Orchestrade partnered to deliver a cross-asset managed platform.

Broadridge introduced Report Manager - a mobile, web-based reporting tool.

People in the news

EBS announced a new management structure.

Rob Laible joined Liquidnet as Head of Global Performance Team.

Calastone named James Colquhoun as chief financial officer.