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Science

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Royal Society Hidden Wealth Report

From Dr James Wilsdon Director, Royal Society Science Policy Centre: I am pleased to announce the launch of the Society’s report Hidden wealth: the contribution of science to service sector innovation,...

Knowledge Exchange between Academics and the Business, Public and Third Sectors

A report issued by the Centre for Business Research (CBR) at the University of Cambridge There has been an increasing focus on the role that Universities can play in contributing to economic growth....

Artificial Immunology for computer viruses

With increased global interconnectivity, organizations must protect their systems from intrusion and computer-virus attacks. Current antivirus and network intrusion detection (ID) solutions can become...

Darwin, DNA & Financial Evolutionary Computing

Darwinian evolution is being used by computer scientists to provide solutions to a wide range of problems in finance, from non-linear factor models for stock-picking to adaptive load-balancing for dynamic...

Early stage R&D

A core objective for Res Novae is to roll out a range of resources and services to encourage and support early stage R&D. This includes support for blue-sky academic research and more focused research...

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Technology

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Thought Leadership in Trading Technology

Advancing Collaboration Between Industry & Academia and Exploring Innovation Challenges Thought Leadership in Trading Technology Workshop Venue: Holborn Bars, 138-142 Holborn,...

Easy CUDA integration

CuPP is a newly-developed C++ framework designed to ease integration of NVIDIA's GPGPU system CUDA into existing C++ applications [1]. "CuPP provides interfaces to reoccurring tasks that are easier...

Technology maps

Producers of financial services technology need in-depth knowledge of the global financial services "ecosystem" - that is, not only the potential clients but also the scientists who generate new technologies...

Technology events

On our events pages, Res Novae members can keep track of upcoming events such as technology conferences, exhibitions and workshops. Res Novae will also be holding its own events to bring together scientists,...

Science publications

Want to know what's going on in the world's research labs? Prefer to search covertly before approaching a research group with a view to collaboration? Or perhaps you just want to pick up some new ideas...

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Financial Services

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Focus Group Meeting on Systems Latency

Advancing Collaboration Between Industry & Academia and Exploring Innovation Challenges Thought Leadership Focus Group on Systems Latency Workshop...

Focus Group Meeting on Market Simulation

Advancing Collaboration Between Industry & Academia and Exploring Innovation Challenges Thought Leadership Focus Group on Market Simulation Workshop...

Focus Group Meeting on Historical Datasets

Advancing Collaboration Between Industry & Academia and Exploring Innovation Challenges Thought Leadership Focus Group on Historical Datasets Workshop Venue:...

What the Behavioural Sciences can teach us about Wholesale and Retail Financial Markets

A round-table discussion with Gulnar Muradoglu (Cass Business School), Werner DeBondt (DePaul University), William Forbes (Loughborough University Business School), Jose Manuel Varas (Cabot Financial)...

Financial Services Knowledge Transfer Network (KTN)

At an event to mark the launch of the new KTN on 20th October 2009, Sir Win Bischoff (Chairman of Lloyds Banking Group, above left) addressed some of the most senior and influential...

Dynamic SLAs for financial applications in the Cloud

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TradeTech2009 Industry Leading Workshop

Focus Group Meeting on Systems Latency

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Advancing Collaboration Between Industry & Academia and Exploring Innovation Challenges

Thought Leadership Focus Group on Systems Latency


Workshop Venue: TBA, Central London

TBA April 2010, 5:30pm - 7:30pm

 


Following the Thought Leadership in Trading technology workshop on the 20th January 2010, this will be the first meeting of the Systems Latency focus group.  Our aim is to produce a manifesto that will be presented at the Trade Tech conference in April.


Theme for this Focus Group


Key Observations:

Buy side requirements for low latency depend on a company’s business Model, organizational culture and risk Appetite

· Speed and volume capabilities are critical if an organization operates a proprietary trading desk, and represent a key USP to differentiate the company’s offering.

· Conservative buy side companies see investment in technologies to enable High Frequency trading as being a financial risk

· The concern is that high-frequency trading could affect price discovery and market surveillance as well as the ability of smart order routers to provide best execution and adaptive routing.

55% to 60% of latency occurs in Order and Execution Management Systems and is caused by software struggling to cope with high frequency and volume of small transactions

· Analysis of trade latency has revealed that most delay issues lie in the connection between the pre-risk check layer and the exchange.

· Incorporating evolving regulations imposed by MIFID could present further challenges within the pre-risk check layer.

· Transaction throttling is still used to maintain stability and prevent hardware constraints.


Key Questions:

Is there a real buy-side demand for low latency, or is it an arms race being promoted by the sell-side and the vendors?

Considering the speed advantage of hardware implementation over software, Is it feasible to cast trading algorithms in Silicon to reduce system latency? How can Cost and flexibility constraints be overcome?

Does FPGA technology provide the perfect trade off between software and hardware?

Has the importance of technology been overplayed? Should the focus be turned towards achieving a better integration of Maths, Technology and Business needs?



Registration


To cover costs, there will be a registration fee of £TBA for industry and £TBA for academics.  This will be determined by whether we can find a room free of charge and whether we need to employ a technical secretary - we are open to suggestions from any participant who would like to offer a room and refreshments and somebody to take notes and write up the minutes of the meeting.

Registration will open once we have a better idea of numbers - please email Lucinda Kingswood ( This e-mail address is being protected from spambots. You need JavaScript enabled to view it ) if you are interested in this focus group meeting.  Full members may just tick the box below.