Trading Tech Talk 14: End of the Race to Zero
CTO Interview Segment: Today';s guest is Dan Sacks, CEO of Actant.
He discusses:
- An overview of his background in the derivatives space.
- A background of Actant.
- Actant's key products and consumers
- Free troubleshooting for your clients
- How important is speed?
- What is the use case for Actant's Extstream product?
- What does Extstream offer that the legion of other risk/analytics platforms do not?
- How he feels about changing fee schedules?
- What was the genesis behind the recent deal with Liquidpoint?
- What he thinks of the recent controversy over the Globex outage?
- Have we reached the point where adding new venues is simply risk prohibitive at this point?
Hot Topics in Tech: ICE buys patents from Trade Technologies. What is sufficiently accurate to collect timestamps on multi-party electronic trading data? Is it seconds, milliseconds, microseconds, or nanoseconds? 'Flash Boys' and the Speed of Lies - By Brad Katsuyama
The Inbox: Listener questions and comments
- Comment from Kaiserdog76: Mark- Kudos again for covering Barclay's and the HFT shakedown that has been going on. It is the biggest thing no one seems to be talking about. Please keep it coming!
- Question from Anon. (withhold name): Loving the trading tech talk program. The episodes with Hull and Liquidpoint were great. I look forward to each new episode. I work for a vendor (which shall go unnamed) and i see a lot of these debates playing out every day. Quite frankly a lot of the firms that I deal with are fed up with shelling out every six months for new tech. They are overburdened by regulatory expenses that are siphoning off any remaining discretionary budgets and they are being forced to make do with the tech they already have. My question for the panel - do you think this will be the ultimate deciding factor in the financial technology space? Firms essentially saying "no mas" to increasing tech arms races, abandoning the already dated "race to zero" and instead focusing on new strats and products that take full advantage of their existing tech without a large additional capital outlay? Between you and me I'm already polishing my resume. So I guess that goes to show where I think things are heading. Love the show. I'll keep listening no matter how this thing shakes out. If you use this on the show please don't read my name.
