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finteligent and Argon Design

finteligent, homepage, here.

The finteligent trading technology community is a collaboration among leading IT vendors and service providers, joining forces to create demonstrable and rigorously benchmarked high performance solution stacks that address common business requirements in financial trading.

Participating vendors include those supplying infrastructure hardware and software, business applications, networking, co-location… all mapping the demands of today’s multi venue trading strategies.

Mike O’Hara, Blog, How to Reduce Latency by Running Trading Algorithms in a Switch, here.

To conduct the test, Argon Design used the Finteligent test framework developed at Intel’s fasterLab – a simple trading technology framework allowing latency to be measured and compared with other published figures – running two separate processes on an x86: a market data feed simulator generating data in FIX format over TCP; and an exchange simulator to accept orders, match the trades and send acknowledgements and fills, again via FIX.

The specific leg of latency they measured was from the point where market data left the market data simulator to the point where the exchange simulator received an order. So the 176ns latency quoted in the press release for their trading device included the receipt of market data, the making of a trading decision, the generation of an order and the submission of that order to the market – or specifically, from the end of the incoming market data packet to the end of the outgoing order packet.

Argon Design, homepage, here. Cambridge design shop.

Argon Design has been building complex digital systems for many years and has the skills to help – to assist an in-house team either by providing specialist skills or additional resources. We can also offer complete bespoke system designs.

  • System architecture definition, design and build
  • Appliance prototyping and build
  • FPGA-based development/programming
  • Many-core processors such as from Tilera and Intel
  • Network processing
  • GPU development/programming and OpenCL, CUDA skills

 

Argon Design is set up with technology engineering at the heart of its DNA and by focus on the functions of trading in financial markets aims to help such organisations realise a system edge advantage. Operating from the Technology Hub in Cambridge England, Argon is close to some of the world’s leading innovation – both inside academia, in research projects and the cluster of leading edge firms attracted to the regional community.

In order to achieve the lowest latency, their approach was to put the trading device directly in the switch.

Finteligent. Research Report: 10GbE Low latency Networking Technology Review, Oct 12,  here.

Low latency networking is used by electronic trading applications to provide better execution rates and allow more in line processing. The FIX protocol is widely used to implement electronic trades. This paper examines the comparative performance of low latency switches and network interface cards when running the FIX protocol

 

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