5 ms·
There is barely any software in the hot path of competitive equity HFTs these days. Even the most finely tuned C++ is probably on the order of single digit micr
by pgwhalen 9y ago
There is barely any software in the hot path of competitive equity HFTs these days. Even the most finely tuned C++ is probably on the order of single digit micros tick to trade, but the goal is sub-micro.
- mhurd 9y agoState of the Art trade system performance from a couple of years ago: https://meanderful.blogspot.com.au/2015/08/trade-system-performance-state-of-art.html https://meanderful.blogspot.com.au/2015/08/trade-system-perf...
- pgwhalen 9y agoGood source. I’m in the industry but not at an HFT, so my comment is more of a well-informed guess.
- physguy1123 9y agoThere's a huge amount of software trading in the 1-10us range, probably more than pure hardware. Fpgas often play a role in these stacks as market data parsing/disseminating and order entry however.
- pgwhalen 9y agoSorry yeah, I didn’t mean there isn’t a lot of software that qualifies as HFT, but the very quickest seems pretty light on software.
- physguy1123 9y agoThe quickest in terms of tick-to-trade (MD received to trade) are certainly all hardware, but having better connectivity changes the game by a lot. Latency arb trades generally aren't that great, the most competitive in terms of PnL don't depend on (but usually utilize) tick-to-trade style speed.