Market Data Ldn&Ny Lowres + Correct Ny Address


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Market Data Trading Technology training course March, April 2009

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Market Data Ldn&Ny Lowres + Correct Ny Address

  1. 1. Four separately John Best bookable days in Director and Senior Consultant, London and New York Tutor KeNDALe SYSTeMS AND SeRvICeS LTD. Market data & technology training New York London 30-31 March & 1-2 April 2009 20-23 April 2009 Introduction to market data Day Day The regulatory environment 1 3 and dealing room technologies affecting market data systems and the world of reference data Technical advances in market Day Day Data administration and cost 2 4 data systems control in market data systems
  2. 2. Market data & New York London 30 March 2009 20 April 2009 technology training Market Data & Technology Training — March/April 2009 Day About the course Introduction to market data and 1 dealing room technologies Despite challenging business conditions This course unit provides a comprehensive in the finance sector, banks and other introduction to the world of real time and reference data, its sourcing, distribution and institutions continue to implement higher underlying technologies. Additionally a review performance and broader based market of the competitive landscape is undertaken highlighting the main vendors and other suppliers data systems. Some organisations are in the market data industry. This unit is aimed at focusing on improved market access those new to market data or those wanting to get upto speed with latest developments. and others are looking for overall price/ performance value. 0900 Registration & coffee 0930 A summary of the global financial markets The first, one day course unit, is designed — Brief history of the markets — Roles and interactions of financial institutions to provide an overview and introduction — Regulatory frameworks — Introducing traded securities to the market data business, its systems Market data types and sources 1015 and vendors. The first day provides a — Exchange and OTC data — Calculated and pricing reference data general introduction and each subsequent — Instant messaging — News, commentary and analytics day covers in more detail a key subject 1045 Morning break area. 1100 Market data usage in a typical investment bank — Roles of front middle and back office – Price discovery Attendees will gain key understandings – Risk management – Trade settlement of the technical, administrative and – Increasing usage by compliance regulatory aspects of the market data 1145 Underlying market data system technologies — The basic building blocks arena. The latest low latency real-time – Networks/servers/workstations market data as well as reference data – Network evolution – Gold builds and managing upgrades systems are explained and investigated. — Wide area networks – Private/managed networks The final day also hones in on the methods – MPLS and other offerings – Role of the internet used to deliver cost effective access to — Added Value Network Components market data, in particular managing costs – NAS and SAN solutions – Application and database servers in the current environment. This course — Virtualisation – New approaches to performance and resilience is aimed at those who have particular 1230 Lunch interest or responsibilities for market data Overview of market data systems 1330 in all its forms. — Terminal products — Real time data feeds — Reference data feeds — Market data platforms — Enterprise data management systems 1400 Disaster Recovery and Business Continuity Market data vendor landscape 1415 — Overall market shape and size — Trends over the last 3 years — Vendor relative market share — Comparison of relative vendor growth call— +44 0870 240 8859/ +1 (212) 457 7789
  3. 3. 1445 Focus on Reuters New York London — Brief history — Collection and distribution infrastructure 31 March 2009 21 April 2009 — Platform and workstation product offerings – RMDS, Direct Feeds, 3000xtra, Reuters Trading — Core strengths and weaknesses Day Technical advances in market data 1500 Afternoon break 2 systems 1515 Focus on Bloomberg This course unit focussed in detail on the — Brief history — Collection and distribution infrastructures technologies delivering markert data with the — Product offerings minimum of latency. All components of data – The Bloomberg Professional, B-Pipe, Data Licence collection and distribution infrastructure are — Core strengths and weaknesses investigated, utilising direct feeds, low latency 1545 Other Vendors – Thomson, IDC, Telekurs etc. platforms and algo-trading systems. The publishing — Finding comparable and alternate products of data is also reviewed including, enterprise wide – Sector strengths data publishing, the efficient use of real time data – Product offerings and demonstrations in Excel and accessing vendor networks using their 1615 Impact analysis of current vendor merger activities contributions capabilities. 1630 Principles of market data cost control 0900 Systematic and low latency users of market data — Typical cost breakdown — Typical requirements in an investment bank — Areas of focus in rising & falling markets — Using Reuters DACS and Bloomberg Usage reports 0930 Low latency & direct exchange feeds — New Reuters Pricing Model — What really is latency? 1700 — Differences between direct feeds Questions and Close — Supplier offerings examined 1730 End of day one — Issues around feed integration 1030 Morning break Low latency platforms 1100 — Drivers and technologies explained — Example platform architectures – RMDS6, 29West, Caplin, Wombat, IBM and others explained — Performance and latency measurement 1200 The Algo-Trading market and concepts — Market trends and asset class migration — Programme v algo trading — Algo trading objectives — A typical algo trading system examined 1230 Lunch 1330 The real costs of machine usage of market data — Derived data and redistribution definitions — Classifications in the new Reuters pricing model — Wholesale distribution options 1400 Data publishing and contributions - a primer — Who publishes and why — Publishing and contribution systems - a summary 1430 Afternoon break Understanding vendor contributions requirements 1445 — Contributing to Bloomberg via MPF – Data structures in Bloomberg – Review of main message types – Working with the Bloomberg test system — Contributing to Reuters via Marketlink – The Reuters data model – Variations on Marketlink – Understanding the impact of throttling 1500 Publishing and distributing real time data with excel — The challenges of using real time data in excel – Awareness of current limitations – Advantages of changing from DDE to RTD – Utilising excel 12 (Office 2007) – Live examples of exploiting real time data in excel 1600 Excel and compliance — Regulatory interests and concerns — Managing excel in the trading room environment 1630 Questions and Close 1700 End of day two web— email—
  4. 4. New York London New York London 2 April 2009 23 April 2009 1 April 2009 22 April 2009 Market Data & Technology Training Day Day —March/April 2009 The regulatory environment Data administration and cost control 3 4 affecting market data systems and in market data systems the world of reference data Market data costs can be some of the largest items on the budget for financial institutions. This course unit provides This course provides a comprehensive a comprehensive breakdown of the costs, their origins and introduction to the world of reference data, techniques for managing them. Included are examples from its sourcing, distribution and underlying real world market data cost management exercises. technologies. Additionally increasing regulatory impact on the financial market systems continues 0900 Cost components of market data to be a key driver and this is reviewed in light of — Exchange & vendor fee liabilities — Packaging options the latest developments in this area. — Finding the true cost of market data 0945 0900 Reuters DACS and Bloomberg usage reports Market Data aspects of regulation and compliance — Interpreting the reports — The regulatory driving forces affecting market data — What additional information is required 0930 MiFID regulatory aims and objectives 1015 The Reuters new pricing model — Comparison of Law against implementation — Reuters objectives — Potential user exposure – The key clauses 1030 – Timetable and impact Morning break — Industry responses and current offerings 1045 Market data management tools 1045 — What addition information is useful for cost Morning break management? 1100 Basel II – Vendor comparison tools — Brief history and objectives – Getting more detail than DACS and Bloomberg usage reports — Market data and operational risk — Other it and market data implications 1130 Market Data and Inventory Systems — Example systems and outputs 1145 The Scene in the USA 1230 Lunch — Impact and l essons from RegNMS 1330 Strategies for cost control 1215 Future Trends in Regulation — Alternate data sources — What’s next in the pipeline? — 2nd tier vendors 1230 — Can direct feeds be used to reduce costs? Lunch — Using delayed, snapshot and end of day data 1330 Reference Data 1415 Maintaining Savings — A definition of reference data as opposed to real time market — User level reporting data — Techniques for getting management support — How reference data is used within large financial institutions 1445 Afternoon break 1400 Sources of Reference Data Market data control and cost saving case studies 1500 — Reference data“Feeds” — Examples from Investment banks perspective — Online databases – Savings realised by – Negotiation, data replacement, technology 1430 Corporate Actions — Examples from consultants perspective — Overview of ISO 15022 1545 Course Session workshop (1) — Examples of corporate and class actions — Delegate review of market data cost control initiatives — Vendors and products 1615 Course Session workshop (2) 1515 Afternoon break — Delegate driven review of topics raised over the whole course 1530 Special Regulation Affecting Reference Data 1645 Questions & Close — UCITS III 1700 End of course 1600 Storage and Management of Reference Data — Symbology — Ownership of data — Data Repositories 1630 Enterprise Data Management — Challenges facing EDM implementations — Example based on the worlds largest EDM implementation 1645 Questions and Close 1700 End of day three call— +44 0870 240 8859/ +1 (212) 457 7789
  5. 5. Copenhagen Financial Information FREE attendance Summit 2009 for qualified delegates from financial institutions Upcoming Financial Information Summits in 2009 Market data North Reference data American Enterprise data management New York, Data infrastructures May 20, 2009 Algorithmic trading Regulation and market structure European London, September 22, 2009 Asia Pacific To discuss specific sponsorship packages that would suit your individual Hong Kong, requirements please November 2009 contact: Lee Hartt T: +44 (0)20 7484 9907 E: lee.hartt@ email— web—
  6. 6. Market data & technology training Market Data & Technology Training —March/April 2009 I would like to attend: New York London US$1999 per day £1099*per day 20 April 2009 22 April 2009 30 March 2009 1 April 2009 21 April 2009 23 April 2009 31 March 2009 2 April 2009 Booking Form Standard Discount 2 Days 3 Days 4 Days 5% Discount 10% Discount 15% Discount Inside Market Data, Inside Reference Data & Dealing With Technology Subscribers Discount 1 Day 2 Days 3 Days 4 Days 10% Discount 15% Discount 20% Discount 25% Discount Please add your subscriber number here: *Price excludes VAT @15% Discounts cannot be combined Registration & payment details Please complete the form below in BLOCK CAPITALS. Email Title First name Family name Job title / Position Department Company Address City Post/zipcode Country Tel direct Tel main switchboard Fax Approving manager Training manager Please note that payment must be received prior to the start of the event. DATA NY – 3323/09 I have enclosed a cheque made payable to Incisive Financial Publishing Ltd. DATA LND – 3322/09 Please debit my: Amex Visa Mastercard Maestro – Issue number Card no: Expiry date Account address if different from above Signature Date Incisive Financial Publishing Ltd. VAT No: GB 7569 78165 For companies in EU member states only: Please write your VAT/TVA/BTW/IVA/ MCMS/MWST/FPA number here___________________________. Payment is required prior to the event. If you require an invoice please inform us stating whether you need an original or a fax copy. We accept company cheques, credit cards and bank transfers. Please allow a minimum of seven working days for a bank transfer to reach us and phone or fax us when it has been sent. Please state the event name and delegate name to which it relates. fax— +44 (0)20 7504 3730/ +1 (646) 417 7705
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Please remember that if Incisive Financial Publishing Ltd., Incisive RWG, you choose not to receive other literature you may miss out on some exclusive Haymarket House, 28-29 Haymarket, 150 Broadway, 5th Floor offers.*For a list of companies included in Incisive Media please see our website – London, SW1Y 4RX, UK New York, NY10271, USA By Tel +44 (0)870 240 8859 By Tel +1 (212) 457 7789 By Fax +44 (0)20 7504 3730 By Fax +1 (646) 417 7705 By Email By Email Inside Market Data February 2, 2009 Tibco Rolls Out Rendezvous Appliance Volume 24, Number 18 GFI Launches Eastern European Data —Later this architecture, Tibco officials nents. Tibco also plans to it; however, they haven’t had week, Tibco Software plans to claim that the new platform release a limited edition that many requests for it yet. Interdealer broker GFI will this month launch the broker is planning to release, officials say. announce the availability of the can support up to 10 mil- will offer four 1 Gbps Ethernet Tibco and Solace Systems a new data product that will provide foreign GFI will distribute the Eastern European 5 Delivery Technologies new appliance-based version lion messages per second. “It ports, but will be exactly the announced the new platform exchange rates and money market data from data through its existing channels, including Chi-Tech Ups Euro Coverage of its Rendezvous messaging can completely saturate either same in all other features and in May 2008 (DWT, May 5, Russia, Ukraine and Kazakhstan, officials say. via the broker’s direct feeds and redistribution platform. eight 1 Gbps Ethernet net- functionality. McNamara says 2008). Beta testing with cli- The data is being sourced directly from GFI’s licenses with third-party data vendors. “We’ll 5 euNetworks Expands Developed with content work connections or two 10 the limited edition offering will ents commenced in September Eastern European broking desk in London, distribute the data via our FTP servers and in Germany router provider Solace Systems, Gbps Ethernet connections,” be targeted for firms looking 2008. The vendors have eight which trades a range of derivatives instruments, data downloads from our Web site, as well as the new platform has Tibco’s says McNamara. for low latency and improved to 10 beta units installed in a including non-deliverable forwards (NDFs), via vendor feeds,” says Philip Winstone, global 6 Research & Commentary Rendezvous 8 burned into the Tibco plans to offer two ver- predictability, but without the mix of large banks and small forward rate agreements (FRAs), basis, cross- head of data sales at GFI. appliance’s field programmable sions of the product. The pri- messaging volume require- and midsize hedge funds. YouDevise Improves TIM currency and interest rate swaps (IRSs). Non-deliverable forwards prices are available gate arrays (FPGAs) and appli- mary offering will be a 4-U ments of its larger sibling unit. With the appliance offering’s Analysis The new product, dubbed Emerging Mar- denominated in Russian rouble, Kazakhstan cation-specific integrated cir- rack-mountable unit that can Vendor officials say that if performance improvement cuits (ASICs), explains Rourke be configured with eight 1 they receive demand from over Tibco’s strictly software- kets—Eastern Europe, comprises data that was tenge and Ukrainian hryvnia, and include a 7 Data Display & Analytics McNamara, director of prod- Gbps Ethernet connections or customers asking for Infini- based implementations of Ren- previously not distributed, and is the first in a Aleri Bolsters Risk Analytics uct marketing with Tibco. two 10 Gbps Ethernet ports Band connectivity capabilities, series of new emerging markets data products continued on page By adopting a purpose-built and fully redundant compo- they will develop support for continued on page 4 9 Organization Strategy First Derivatives Boosts Tibco Debuts Messaging ‘Appliance’ Baikal Selects TradElect Equiduct Trading Sets Data Focus Tibco will this week unveil its new hardware- The clients are mainly trading and invest- New Launch Date 9 Industry Issues —The London to conduct a review proc- based messaging appliance, which embeds the ment firms that have large existing installations Data Certification Gets Nod Stock Exchange’s (LSE’s) ess through the end of last vendor’s Rendezvous middleware product into of Rendezvous and are looking to reduce the —After pushing back the process and are now in dark-liquidity trading plat- year.” networking hardware to reduce messaging number of servers required to support their the launch date for Equiduct talks with firms, he says. form, Baikal, will run on the Last month, the LSE latency and server space requirements while messaging functions, as well as firms that co- Trading, the multilateral trad- The undisclosed members exchange’s TradElect trading announced two senior handling rising data throughput. locate trading engines at exchange datacenters, ing facility’s (MTF’s) officials are testing Equiduct’s plat- platform and is scheduled to appointments to Baikal (DWT, Almost 10 clients are now testing the appli- who can save rack space and eliminate network 4 Opening Cross expect the venue to go live form, which was developed go live in June this year, Jan. 19). The exchange has ance, which entered beta testing in September switches to further cut latency using the appli- later this quarter. in 2000 and adapted for the according to recent industry appointed Natan Tiefenbrun after Tibco announced the new product last ance, says Rourke McNamara, director of 5 Herd A soft launch was originally European Association of reports. and Chris Rennoldson com- May with messaging hardware provider Solace product marketing at Tibco. scheduled for July (DWT, Securities Dealers Automated “TradElect is likely to play mercial director and COO, Systems, which is Tibco’s manufacturing part- 6 Scrolling News June 16, 2008) and then for Quotation (Easdaq), Nasdaq some part in Baikal, but we respectively. Both will report ner for the appliance (IMD, May 5, 2008). continued on page September last year (DWT, Europe and Nasdaq Deutsch- won’t be in a position to to John Wilson, who was • Breaking News July 14, 2008). Artur Fischer, land. The technology is set announce or confirm this, or named CEO of Baikal last co-CEO of Equiduct Trad- to offer an average message any other vendors and part- November (DWT, Nov. 3, PhaseCap Rolls Out StreamBase CEP MDSL Shuffles Execs ing, attributes the delay to the latency of 2 to 3 milliseconds, ners, for another few weeks,” 2008). UK-based market data cost current market turmoil, which says Fischer. says an LSE spokesperson. LSE officials expect to Boston-based PhaseCapital, a new quantitative reflect orders and fills captured from markets management software vendor has affected member firms as Equiduct maintains its orig- The original technology plan announce Baikal’s CTO this investment firm that will launch next month, via its execution management system—which MDSL has realigned its senior well as potential new clients. for Baikal has changed, the has rolled out technology from complex event is also built using StreamBase’s platform—and staff to take over the duties of MTF officials have restarted spokesperson says. “We had continued on page 4 continued on page 4 processing software vendor StreamBase Systems for building adapters between different compo- for managing market and trade data within the nents of the system and each datafeed. continued on page 6 firm’s proprietary algorithmic trading system. “The StreamBase technology enables us to The firm, which will initially focus on trading generate signals from our Thomson Datafeed. US equities, exchange-traded funds, real estate The signaling is highly optimized to each investment trusts and futures, has used the soft- individual data thread, and then feeds into the ware to build its trading system and feed inter- ‘brain’ of the system, our Portfolio Manage- faces to support algorithmic-based trading. ment and Risk engine,” says Eric Pritchett, © 2009 Incisive Media Investments Limited This includes managing state handling of its chief executive and portfolio manager at Phase- Unauthorized photocopying or facsimile distribution of this copyrighted consolidated order book to combine price data newsletter is prohibited. from incoming feeds and FIX messages that continued on page 4 All rights reserved. ISSN 1047-2908. DWT020209.indd 1 30/1/09 13:56:35 IMD090202.indd 1 30/1/09 19:58:23 For more information about subscribing For more information about to our Dealing With Technology subscribing to our Inside Market newsletter please email Data newsletter please email or visit or visit email— web—