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If you believe slippage or latency is the source of your problems, and your system have yet shown consistent period of profitability, then you are looking at the wrong place. Slippage can make a big difference, but not enough that would make your system unprofitable in the long run. Latency is...

Most stuff in the IBM report have been said before. While it is true that a high % of tradition "upstairs" traders will probably lose their jobs, this will not make the City an empty place filled with data centers, however. Automated trading require quants, developers, and traders, so while...

While I believe hedge funds should be regulated, no regulation will be effective in preventing future hedge fund collapses. As in the case with Amaranth, it did not commit any crime in their trading activities, their losses come from bad mgmt and risk oversight, it seemed. It is also...

Amaranth's head of energy trading desk did quite well last year, over the hurricane season. http://www.canada.com/nationalpost/financialpost/story.html?id=7dbce877-a0c5-4f0c-bd9c-6526eb7a60c0&k=9750 Amaranth have had some problems recently, since they grew very fast. When I last heard...

I was going to a meeting in WFC, just gotten off the 4/5 subway (can't remember) when the 2nd plane struck. I remember the ground shook. Then I did probably the smartest thing I could have done, ducked into a satellite office (I was working for an ibank then), called my parents and then my gf...

I don't believe they are active yet, at least I am not aware that they are active (I will make some inquiries to ISE members that I know, however). The mechanism strangely reminds me of Pipeline, as the order need to be entered before the bid / ask quotes are shown.

Problem is that under MDP, a single "channel" would consist of *all* index futures, or currency futures, or interest rate futures. The previous MDAPI 2.0 using TIB RV would let an application pick which products to subscribe. There is something called MDP-Lite (read up on it on CME site)...

As long as you have a clearing firm sponsoring your connection, you can start developing to Globex iLink and MDP (MDAPI is in the last stages of being phased out). CME publishes extensive guide for connecting first to the AutoCert (certification environment) and then the production environment...

A straight hi-lo system (2-6 = +1, T = -1) is sufficient to beat the dealer in BJ, but it is also extremely easy to detect by casino surveillance. If I remember correctly, a hi-lo system will give the player a slim edge (roughly 1%) over the house in a 6-8 shoe (standard Atlantic or Vegas)...

Bloomberg reported that Merton just shut his new fund down. http://www.bloomberg.com/apps/news?pid=20601087&sid=api7F5j8W_nY&refer=home Scholes' fund (Platinum) is mostly funded by the Bass family (Oakhill invesments), where Scholes also serves as the chief advisor.

Nope, the low ROE is fairly standard amount specialists (except, of course, the haydays of dot-com bubble), look at the 10-K of Knight, LaBranche, etc. Knight is pumping up their ROE (by becoming a quasi-ibank) by entering into capital market and asset mgmt business, since 2000, NITE ROE is...

Actually the specialist business is not that profitable. Apologies for going off on a tangent. Back in one of my previous lives in an ibank, the ibank bought a specialist firm (no, not the SLK/GS deal, if anyone is wondering), and then the dot-com bubble burst. This specialist firm...

Seems like you are victim of the massive Time Warner outage yesterday. If you are in the City, then Bryant Park, the Concourse in JPM Chase Tower in lower Manhattan all have wireless access. Also, the NY Public Library have wifi connectivity. However, if you want a decent 24x7 backup, you...

This is correct. Gelber is a good firm, Brian Gelber was featured on Market Wizards (I have never read the book, but a lot of ETers seem to put a lot of importance in it). Brian is actually fairly accessible at Gelber Group, from what I know. They hire a lot of young interns, give them...

Apologies for the late reply. It depends on what type of trading you will be engaged in, whether you are planning on getting an exchange seat (lease or purchase), etc. If you are not planning on getting an exchange seat, then the direct connect to exchange (i.e., Globex) will not be available...

I have no idea who you talked to at CME. But opposite firm number is a part of the trade register file (and TREX messages), I am looking at intraday drops now. You are not a clearing member and does not receive the Trade Register drops. This is all I am going to say about this matter...

Counter party is no longer provided on execution. But naturally they are still provided on the intraday clearing (CCL) drops. So for those who really need the counter party firm, it is still just a simple application that matches up the post-trade drop with the trade execution itself. The...

I think everyone just need to find a trading style (discretionary, fundamental, systematic) that suits their own abilities and experiences. To make a completely unfair comparison, I can not pick a stock to save my life (and I spent some time as a discretionary trader in a hedge fund, with...

In a word, yes. Market microstructure is one of the hottest areas of trading strategy research in large hedge funds and ibanks. The definitive bible in market microstructure research is Maureen O'Hara's book, "Market Microstructure Theory". It is highly academic and theoretical, and is not...

I don't usually respond to threads like this, but since there are a lot of discussion between bj, poker and trading, I figure I will throw in my 2 cents. There are some clear parallels between bj and poker. in bj it pays to know what is left in the deck / shoe (whether manual counting or...