Nice article here.
Very interesting quote on Page 2, second paragraph.
©2009 Marc Adler - All Rights Reserved.
All opinions here are personal, and have no relation to my employer.
Friday, July 10, 2009
Monday, July 06, 2009
Goldman's "Stolen" Program Trading code
(I am sitting here with a HP dv9700t laptop with two broken hinges, trying to cross my knees in such a way that the screen will be propped up in a way that I can see it. I am going to Spain for the last two weeks in July, so right before I go, I will send the laptop off for repair. I estimate the repair cost to be about $300. I cannot believe that HP makes a complete line of laptops whose hinges crack after a few months, and are so arrogant and uncompromising when it comes to addressing this issue.)
I spent an hour on Monday morning reading the great post on ZeroHedge about the Goldman developer who zipped up the code to a High Frequency Trading (HFT) system. I am not going to rehash what has been written in the various news outlets. But, it's always interesting to read Lars Toomre's opinions on the subject. (Update: here's another one from Hack The Market)
I am not going to weigh in on my own opinions, as I feel that it's not appropriate to comment on the public issues that one of our competitors is going through. But, here are some things that I have seen in my time on Wall Street:
1) Many developers seem to come to a new firm with some old code in hand. I have interviewed candidates in the past where, in the middle of an interview, they pull out a stack of printed source code and show it to me as proof of their coding ability.
2) Many coders think of themselves as authors and artists. When they write something, they want to keep a copy for posterity sake. They might not ever want to use it again. They just want a memento of what they have written. There is no malfeasance intended.
3) Companies are cracking down. Look at what went on with Morgan Stanley a few years ago when a consultant sent client data to his personal email account. You always have to assume that every keystroke, every out-going email, every website you browse to, is being monitored by your company.
In my opinion, you can always write the same application again, but even better. And, if you bring your old source to a new company, you are putting your new company in a precarious situation. And, if you decide to work on any other projects in your spare time, make sure that you check your employment contract very carefully ... some companies say that anything you write during your term of employment belongs to them, even if you write it in your off-hours at home.
©2009 Marc Adler - All Rights Reserved.
All opinions here are personal, and have no relation to my employer.
I spent an hour on Monday morning reading the great post on ZeroHedge about the Goldman developer who zipped up the code to a High Frequency Trading (HFT) system. I am not going to rehash what has been written in the various news outlets. But, it's always interesting to read Lars Toomre's opinions on the subject. (Update: here's another one from Hack The Market)
I am not going to weigh in on my own opinions, as I feel that it's not appropriate to comment on the public issues that one of our competitors is going through. But, here are some things that I have seen in my time on Wall Street:
1) Many developers seem to come to a new firm with some old code in hand. I have interviewed candidates in the past where, in the middle of an interview, they pull out a stack of printed source code and show it to me as proof of their coding ability.
2) Many coders think of themselves as authors and artists. When they write something, they want to keep a copy for posterity sake. They might not ever want to use it again. They just want a memento of what they have written. There is no malfeasance intended.
3) Companies are cracking down. Look at what went on with Morgan Stanley a few years ago when a consultant sent client data to his personal email account. You always have to assume that every keystroke, every out-going email, every website you browse to, is being monitored by your company.
In my opinion, you can always write the same application again, but even better. And, if you bring your old source to a new company, you are putting your new company in a precarious situation. And, if you decide to work on any other projects in your spare time, make sure that you check your employment contract very carefully ... some companies say that anything you write during your term of employment belongs to them, even if you write it in your off-hours at home.
©2009 Marc Adler - All Rights Reserved.
All opinions here are personal, and have no relation to my employer.
Wednesday, June 24, 2009
SIFMA 2009
Not much to write about SIFMA this year. I was warned by a friend that it was a ghost-town on the first day. I went to SIFMA on the second day, which is usually the most attended day, and unfortunately, my friend was correct.
In 2008, SIFMA has 350 vendors, but this year, they had 201 vendors, which is a decrease of about 42%. The side corridors used to be jammed with small vendors, but they were totally barren this year. Many large vendors were conspicuously absent, like Sungard and Reuters and Intel. Cust0mer traffic was way down, and in most booths, vendors were conversing with other vendors.
Sorry folks ... not much to write about here .....
©2009 Marc Adler - All Rights Reserved.
All opinions here are personal, and have no relation to my employer.
In 2008, SIFMA has 350 vendors, but this year, they had 201 vendors, which is a decrease of about 42%. The side corridors used to be jammed with small vendors, but they were totally barren this year. Many large vendors were conspicuously absent, like Sungard and Reuters and Intel. Cust0mer traffic was way down, and in most booths, vendors were conversing with other vendors.
Sorry folks ... not much to write about here .....
©2009 Marc Adler - All Rights Reserved.
All opinions here are personal, and have no relation to my employer.
Cloud Computing
Matt seems to have read my mind. I have just started a dive into Cloud Computing, and today, my questions to various CEP vendors were "Can I use you in the Cloud? Have you deployed to Amazon EC2 yet?"
There are various reasons why, at this time, I feel that we should start looking at the Cloud. I will be posting more on this in the future. But, for apps that are not latency sensitive, and if we can obfuscate our data and get the blessings of our Compliance Department (not an easy thing to do), I would like to think about off-loading some of our CEP processing (as well as some other trading functions) to a public Cloud.
I will be catching up with the Microsoft Orinoco team soon. And, it will be interesting to hear about their plans for Azure.
Meanwhile, this looks like a pretty good blog. Especially this post.....
©2009 Marc Adler - All Rights Reserved.
All opinions here are personal, and have no relation to my employer.
There are various reasons why, at this time, I feel that we should start looking at the Cloud. I will be posting more on this in the future. But, for apps that are not latency sensitive, and if we can obfuscate our data and get the blessings of our Compliance Department (not an easy thing to do), I would like to think about off-loading some of our CEP processing (as well as some other trading functions) to a public Cloud.
I will be catching up with the Microsoft Orinoco team soon. And, it will be interesting to hear about their plans for Azure.
Meanwhile, this looks like a pretty good blog. Especially this post.....
©2009 Marc Adler - All Rights Reserved.
All opinions here are personal, and have no relation to my employer.
Sunday, June 14, 2009
Karen's Cancer is Gone
Congratulations to Karen Shanahan for beating the odds.
©2009 Marc Adler - All Rights Reserved.
All opinions here are personal, and have no relation to my employer.
©2009 Marc Adler - All Rights Reserved.
All opinions here are personal, and have no relation to my employer.
Friday, June 12, 2009
DSLs for Trading using Microsoft Oslo
Video on using Oslo and DSL's for testing trading systems.
(Thanks to Terry for the link)
I would love to explore using a DSL to have our traders register lightweight queries with our CEP system.
Notable about this use case is their use of Microsoft's CCR.
©2009 Marc Adler - All Rights Reserved.
All opinions here are personal, and have no relation to my employer.
(Thanks to Terry for the link)
I would love to explore using a DSL to have our traders register lightweight queries with our CEP system.
Notable about this use case is their use of Microsoft's CCR.
©2009 Marc Adler - All Rights Reserved.
All opinions here are personal, and have no relation to my employer.
Wednesday, June 10, 2009
Some Small Ideas on Google Wave
I went through the painful 1 hour and 20 minute bad-joke-athon that was the Google Wave video on YouTube. Nevertheless, I see some immediate things that I would love to deliver to our traders.
The obvious thing would be the ability to drag and drop some of the interesting graphs that we produce from our real-time WPF-based dashboard onto a Wave, have the traders discuss the graphs in real-time, and embed the graphs and discussions into a blog for dissemination to other departments. (Do we even need a blog anymore if everyone has Wave?)
We might also have a Wave Robot tied into our CEP engine or our delivery mechanism so that, upon seeing certain interesting events, the Robot automatically publishes the data into the Wave. This means that we would need to write a Wave Output Adapter for Coraleri or Orinoco.
The final thing I would hope that we could do with Wave is "bookmark" a certain point in time. When traders interact with this "temporal bookmark", the traders can use the "playback" feature of Wave to replay the events leading up to this bookmark. The playback feature would interact with our CEP engine or our Query Facade in order to replay the state.
Our business sponsor is someone who is known for thinking outside the box, so I am hoping that he comes up with similar ideas of how CEP can be married with Google Wave.
One thing that I do know ..... Microsoft has its work cut out for them if they ever want to compete with Google Wave and some of the other innovative products that are coming out of Google. I am hoping that the thinkers behind Orinoco are thinking the same thing, and will start thinking outside the box too!
©2009 Marc Adler - All Rights Reserved.
All opinions here are personal, and have no relation to my employer.
The obvious thing would be the ability to drag and drop some of the interesting graphs that we produce from our real-time WPF-based dashboard onto a Wave, have the traders discuss the graphs in real-time, and embed the graphs and discussions into a blog for dissemination to other departments. (Do we even need a blog anymore if everyone has Wave?)
We might also have a Wave Robot tied into our CEP engine or our delivery mechanism so that, upon seeing certain interesting events, the Robot automatically publishes the data into the Wave. This means that we would need to write a Wave Output Adapter for Coraleri or Orinoco.
The final thing I would hope that we could do with Wave is "bookmark" a certain point in time. When traders interact with this "temporal bookmark", the traders can use the "playback" feature of Wave to replay the events leading up to this bookmark. The playback feature would interact with our CEP engine or our Query Facade in order to replay the state.
Our business sponsor is someone who is known for thinking outside the box, so I am hoping that he comes up with similar ideas of how CEP can be married with Google Wave.
One thing that I do know ..... Microsoft has its work cut out for them if they ever want to compete with Google Wave and some of the other innovative products that are coming out of Google. I am hoping that the thinkers behind Orinoco are thinking the same thing, and will start thinking outside the box too!
©2009 Marc Adler - All Rights Reserved.
All opinions here are personal, and have no relation to my employer.
Sunday, May 31, 2009
Two New User Groups on LinkedIn
I just created two new User Groups on LinkedIn.
1) Microsoft Complex Event Processing
This is for discussions surrounding the new Microsoft CEP (aka Orinoco) product.
2) Aleri
This is for the newly combined CorAleri product. We can discuss the legacy Coral8 and Aleri products, and discuss the parts of the CorAleri roadmap that are not under NDA.
If these groups interest you, please feel free to join.
©2009 Marc Adler - All Rights Reserved.
All opinions here are personal, and have no relation to my employer.
1) Microsoft Complex Event Processing
This is for discussions surrounding the new Microsoft CEP (aka Orinoco) product.
2) Aleri
This is for the newly combined CorAleri product. We can discuss the legacy Coral8 and Aleri products, and discuss the parts of the CorAleri roadmap that are not under NDA.
If these groups interest you, please feel free to join.
©2009 Marc Adler - All Rights Reserved.
All opinions here are personal, and have no relation to my employer.
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