Meanderful

https://meanderful.blogspot.com Worth a read.

You might find the Meanderful blog informative. https://meanderful.blogspot.com/

https://meanderful.blogspot.com/2018/01/the-accidental-hft-firm.html My all time favorite article related to this topic, I always try to promote it Guys like the author started this whole rodeo through some really ingenious hardware/software/networking jerryrigging.

If you wanted to know how close HFT's are getting to nano seconds, check out this blog post. https://meanderful.blogspot.ca/2015/08/trade-system-performance-state-… Short answer below: Hardware Ho-hum < 2,000 ns Good < 500 ns Excellent < 100 ns Software: Ho-hum < 10,000 ns Good < 5,000 ns Excellent < 2,000 ns Man, I remember when I was proud to get trade times down below 1 milli second!

That's fair, but the reason isn't entirely due to bias. Few people outside the industry really understand market microstructure. It's a dry and complex subject. Legitimate criticisms are pretty subtle and get lost in the noise of "zomg guys with lasers front running Joe Average's 3 share GOOG trade!" I no longer work in HFT. You can do everything better, smarter, faster than ever, and make less. It is one of the most brutally capitalist businesses: orders on exchanges are a pure undifferentiated commodity. The guy making the smallest spread fastest gets the trade. [1] Nobody cares if it's Virtu or Citadel or three guys in their garage. Think of a business like Wal-Mart's, but if someone finds a way to sell soap a half-cent cheaper, you sell 0 and go out of business. And for the end users of the markets, that's great. Let these guys compete to make tighter markets or arbitrage prices sooner. HFTs play an intermediation role, helping other traders transfer risk immediately to lock in a guaranteed price, rather than waiting for someone else to trade with them. They're basically like CarMax or a grocery store: research what things are worth, buy at wholesale prices, sell at retail prices, and control inventory risk. 1: https://meanderful.blogspot.com/2013/01/hfts-dirty-little-secret-where…

some radio stuff here that may or may not be of interest FWIW: https://meanderful.blogspot.com/2017/05/lines-radios-and-cables-oh-my.…

Yep, that's the blog. Specifically this post https://meanderful.blogspot.com/2018/01/the-accidental-hft-firm.html

Speaking of latency: a well calibrated point to point wireless connection is less latency than fiber jumping a bunch of switches. Proof: finance industry's wide use of microwave towers. https://meanderful.blogspot.com/2017/05/lines-radios-and-cables-oh-my.… There was another set of articles describing microwave towers in Europe, quite fascinating. Not sure if this was the one: https://sniperinmahwah.wordpress.com/2014/09/22/hft-in-my-backyard-par…

Also posted here: https://meanderful.blogspot.com/2017/05/lines-radios-and-cables-oh-my.…

Yeah, besides the Xilinx FGPA in the module, the PCB interconnect would have to be specifically the Vitesse Crosspoint VSC3144XHR-12 https://www.vitesse.com/products/product/VSC3144 and you can see from the product brief (https://www.vitesse.com/products/download.php?fid=4548&number=VSC3… many people use it in telco oriented gear for back-planes and the like. Here is my take on why you shouldn't buy an ExaNIC from Exablaze (http://meanderful.blogspot.com/2014/11/dont-buy-exanic-from-exablaze.h… Just remember that I'm very biased... --Matt.

deadgrey19... familiar name. Aren't you Matt Grosvenor who used to or still does work with Exablaze? exablaze might not even be able to keep their ip as it remains subject to dispute: http://meanderful.blogspot.com/p/exablaze-and-zomojo.html The bio you submitted to STAC says you worked at Exablaze: "He is an experienced software and hardware developer and has worked for a collection of start-ups including Exablaze,Zomojo..." https://stacresearch.com/system/files/summit/files/stac_summit_30oct14…