A New "Gunslinger" in High Frequency Trading Hits Sub-Microsecond using FPGAs
Mercury-Minerva Systems, Inc (Carmel, IN, Tiburon, CA) has released its GunslingerHFT™, probably the world’s fastest high frequency trading (HFT) system. The system is available as a turn-key appliance for purchase or lease. It is already deployed on a US exchange by an unnamed client with two additional clients about to deploy the system.
HFT is where live market data is evaluated in real-time and trade orders executed in fractions of a second. The HFT world is further divided into time ranges: milliseconds, hundreds of microseconds, tens of microseconds, and with systems like GunslingerHFT, sub-microsecond. In actual deployment, GunslingerHFT evaluated multiple market data elements on a 10 Gb/s data feed and completely executed a list order in less than 987 nanoseconds.
“The gunslinger analogy is particularly appropriate to today’s HFT practitioners” says Mr. Granny. Continuing, “Especially those working in an arbitrage, where a trade is demanded the instant a tiny change in price happens between markets. Whoever gets the gun out of the holster first wins, and everybody else, well, looses. With algorithmic trading in options, the combination of speed and skill comes into play. When a future price changes there are thousands of underlying options stacked-up in the order book that have to be evaluated, weighted, and perhaps dozens of orders executed… with the first order hitting the wire in under a microsecond.”
Financial industry expert, Mark Richard Fogg attests: “Granny & Durwood have made the clearest technical presentation that I have ever heard for the newly released "Gunslinger" (a micro-arbitrage strategy execution engine); and "PeaceMaker" (a "large order" volatility strategy execution engine provide world-fastest execution with concierge services for trading firms.) The quality of the work is at the highest level, from the perspective of 10 years working on similar trading execution engines.”
About MercuryMinerva Financial Systems
Mercury-Minerva is a collaboration of Nick Granny of NVG Associates and Brian Durwood of Impulse Accelerated Technologies. With Mercury-Minerva they are providing quantitative finance solutions more efficiently and economically. Mr. Granny is an engineer/computer scientist with experience in field programmable gate arrays (FPGAs), artificial intelligence, and information security. Mr. Durwood is a Wharton educated business leader with particular expertise in marketing and corporate governance. Their experience and expertise, combined with the technical staff of their related enterprises, gives Mercury-Minerva the “critical mass” to sustainably deliver technologically superiority new products.
Source: MercuryMinerva Financial Systems