Comments for newyorkscot http://newyorkscot.wordpress.com technology, projects and marketing in financial services Thu, 24 Jul 2008 00:01:30 +0000 http://wordpress.org/?v=MU Comment on New SEC Regulation on Short-Selling Causing a Stir by Babak http://newyorkscot.wordpress.com/2008/07/17/new-sec-regulation-on-short-selling-causing-a-stir/#comment-3074 Babak Sat, 19 Jul 2008 23:58:04 +0000 http://newyorkscot.wordpress.com/?p=158#comment-3074 In my recent blog post [ http://babaksjournal.blogspot.com/2008/07/more-efficient-shorting-tactic.html ], I propose a hopefully more efficient tactic for shorting involving setting up a net hedged position in 2 separate brokerage accounts. The tactic is designed to mitigate the regulatory hurdles that make it difficult to time the short sale of a hard-to-borrow stock. Short sellers might find the idea useful. In my recent blog post [ http://babaksjournal.blogspot.com/2008/07/more-efficient-shorting-tactic.html ], I propose a hopefully more efficient tactic for shorting involving setting up a net hedged position in 2 separate brokerage accounts. The tactic is designed to mitigate the regulatory hurdles that make it difficult to time the short sale of a hard-to-borrow stock.

Short sellers might find the idea useful.

]]> Comment on Bad Functional Specifications by newyorkscot http://newyorkscot.wordpress.com/2007/07/12/bad-functional-specifications/#comment-3071 newyorkscot Wed, 09 Jul 2008 12:56:05 +0000 http://newyorkscot.wordpress.com/2007/07/12/bad-functional-specifications/#comment-3071 win - it was a bit of a vent, but I will eventually get round to putting a decent post together as you describe. Specifics will of course vary on the type of system you are building, but there is a lot of standard concepts that can be followed and used across most situations. These include things like use cases/stories and workflow descriptions / diagrams (interation diagrams, aka swim lanes, are also very good to focus business users on their logic) to build up a list of functional requirements that can be organized (or grouped) into either end-user functionality, dependent functionality, or components/services.This would lead to the creation of a prioritized "backlog" of actionable requirements. Initial specifications around performance (throughput, latency), no. users, geographic coverage, etc would also be nice to get a handle on upfront. I think one of the biggest problems with specifications is the lack of decent organization and clarity of thought. I would prefer to start with people writing down in very simple terms what the end-user (thinks they) wants and when they want it rather than sitting around waiting for them to come up with something in a vacuum. And then work with them to flesh the specs out in a format a dev team can understand and use. I also find that when given the chance, good dev teams have good creativity and can come up with slick / flexible alternates that might be quicker to implement. Using use cases as the organizing principle to build "end to end" code is also key. All for now ...... win - it was a bit of a vent, but I will eventually get round to putting a decent post together as you describe.

Specifics will of course vary on the type of system you are building, but there is a lot of standard concepts that can be followed and used across most situations. These include things like use cases/stories and workflow descriptions / diagrams (interation diagrams, aka swim lanes, are also very good to focus business users on their logic) to build up a list of functional requirements that can be organized (or grouped) into either end-user functionality, dependent functionality, or components/services.This would lead to the creation of a prioritized “backlog” of actionable requirements. Initial specifications around performance (throughput, latency), no. users, geographic coverage, etc would also be nice to get a handle on upfront.

I think one of the biggest problems with specifications is the lack of decent organization and clarity of thought. I would prefer to start with people writing down in very simple terms what the end-user (thinks they) wants and when they want it rather than sitting around waiting for them to come up with something in a vacuum. And then work with them to flesh the specs out in a format a dev team can understand and use. I also find that when given the chance, good dev teams have good creativity and can come up with slick / flexible alternates that might be quicker to implement. Using use cases as the organizing principle to build “end to end” code is also key.

All for now ……

]]> Comment on Bad Functional Specifications by win http://newyorkscot.wordpress.com/2007/07/12/bad-functional-specifications/#comment-3070 win Wed, 09 Jul 2008 09:06:50 +0000 http://newyorkscot.wordpress.com/2007/07/12/bad-functional-specifications/#comment-3070 Funny Read :) Would you mind putting up another post telling people exactly what you want. You told everyone what not to add in the doc but that's not much help. If you have the time add the things you do want people to add to the doc. In this way you will get exactly what you want. Funny Read :)
Would you mind putting up another post telling people exactly what you want. You told everyone what not to add in the doc but that’s not much help. If you have the time add the things you do want people to add to the doc. In this way you will get exactly what you want.

]]> Comment on Prime Brokerage Article by Richard Wilson, Prime Brokerage Blogger http://newyorkscot.wordpress.com/2006/06/05/prime-brokerage-article/#comment-3067 Richard Wilson, Prime Brokerage Blogger Sat, 28 Jun 2008 19:50:21 +0000 https://newyorkscot.wordpress.com/2006/06/05/prime-brokerage-article/#comment-3067 Prime brokerage is the biggest banking business that most people have never heard of. I like your post above and part of my job is writing two articles on prime brokerage trends each week, would it be possible to use the above content as a guest post and link back here to you? Thank you for the consideration and your time. - Richard Richard Wilson Prime brokerage is the biggest banking business that most people have never heard of. I like your post above and part of my job is writing two articles on prime brokerage trends each week, would it be possible to use the above content as a guest post and link back here to you? Thank you for the consideration and your time.

- Richard
Richard Wilson

]]> Comment on Prime Brokerage Article by Ron http://newyorkscot.wordpress.com/2006/06/05/prime-brokerage-article/#comment-3065 Ron Thu, 05 Jun 2008 21:49:50 +0000 https://newyorkscot.wordpress.com/2006/06/05/prime-brokerage-article/#comment-3065 very interesting, found this article a bit late but Im sure not much has changed in a few short months. thanks for posting this! <a href="http://www.brokerageagencies.info" title="www.BrokergeAgencies.info" rel="nofollow">www.BrokergeAgencies.info</a> very interesting, found this article a bit late but Im sure not much has changed in a few short months. thanks for posting this!

http://www.BrokergeAgencies.info

]]> Comment on Nasdaq Data Replay Service by Vinny Carpenter’s blog - » Daily del.icio.us for March 10th through March 12th http://newyorkscot.wordpress.com/2008/02/26/nasdaq-data-replay-service/#comment-3057 Vinny Carpenter’s blog - » Daily del.icio.us for March 10th through March 12th Thu, 13 Mar 2008 00:01:53 +0000 http://newyorkscot.wordpress.com/?p=121#comment-3057 [...] Nasdaq Data Replay Service « newyorkscot - Nasdaq has released a new tool for replaying market data, viewing National Best Bid and Offer (NBBO) at any point in time and confirming best execution. [...] [...] Nasdaq Data Replay Service « newyorkscot - Nasdaq has released a new tool for replaying market data, viewing National Best Bid and Offer (NBBO) at any point in time and confirming best execution. [...]

]]> Comment on Really Massive Complex Event Processing by chris martins http://newyorkscot.wordpress.com/2008/02/20/really-massive-complex-event-processing/#comment-3052 chris martins Fri, 22 Feb 2008 20:24:41 +0000 http://newyorkscot.wordpress.com/?p=119#comment-3052 They are using Progress Sonic messaging software for some of the infrastructure at CERN. http://www.webservices.org/vendors/progress_sonic/cern_selects_progress_software_s_sonic_platform They are using Progress Sonic messaging software for some of the infrastructure at CERN.
http://www.webservices.org/vendors/progress_sonic/cern_selects_progress_software_s_sonic_platform

]]> Comment on The Chait Chat on Microsoft’s Financial Services Blog by Lab49 Blog » Blog Archive » The Chait Chat on Microsoft’s Financial Services Blog http://newyorkscot.wordpress.com/2007/12/18/microsofts-developer-evangelism-platform-the-chait-chat/#comment-3025 Lab49 Blog » Blog Archive » The Chait Chat on Microsoft’s Financial Services Blog Tue, 18 Dec 2007 19:40:00 +0000 http://newyorkscot.wordpress.com/2007/12/18/microsofts-developer-evangelism-platform-the-chait-chat/#comment-3025 [...] Lab49’s Daniel Chait gets some great coverage on the Microsoft’s Developer & Evangelism Platform - Financial Services blog: Building up to the Microsoft Financial Services Developer Conference - The Chait Chat [...] [...] Lab49’s Daniel Chait gets some great coverage on the Microsoft’s Developer & Evangelism Platform - Financial Services blog: Building up to the Microsoft Financial Services Developer Conference - The Chait Chat [...]

]]> Comment on BEA Event Server Fixed Income Demo by newyorkscot http://newyorkscot.wordpress.com/2007/09/19/bea-event-server-fixed-income-demo/#comment-3020 newyorkscot Thu, 13 Dec 2007 16:41:16 +0000 http://newyorkscot.wordpress.com/2007/09/19/bea-event-server-fixed-income-demo/#comment-3020 thanks - the functionality, especially the pie chart, is an innovation of our own (Lab49's) making mainly to show the range of capabilities and potential for WPF-based applications, but also to conceptualize what many people do actually need on trading and risk mgt desks. For instance, we know that many buy-side portfolio managers do need simulation and visualization tools for large portfolios. We also know that buy- and sell-side organizations do have the need to visualize real-time streaming data (whether it is text-based - like news, trends, IMs, etc - or live charting, or numerical). So, the answer comes down to 2 things a) it is the first cut at a simulation tool so it does lack some functionality (like the ability to change market conditions, or reinvestment strategies, or more detailed decomposition analysis, for example), but b) it is not vaporware so if someone really did want this we could actually run this on someone's desktop hooked up to their market data and portfolio. thanks - the functionality, especially the pie chart, is an innovation of our own (Lab49’s) making mainly to show the range of capabilities and potential for WPF-based applications, but also to conceptualize what many people do actually need on trading and risk mgt desks. For instance, we know that many buy-side portfolio managers do need simulation and visualization tools for large portfolios. We also know that buy- and sell-side organizations do have the need to visualize real-time streaming data (whether it is text-based - like news, trends, IMs, etc - or live charting, or numerical). So, the answer comes down to 2 things a) it is the first cut at a simulation tool so it does lack some functionality (like the ability to change market conditions, or reinvestment strategies, or more detailed decomposition analysis, for example), but b) it is not vaporware so if someone really did want this we could actually run this on someone’s desktop hooked up to their market data and portfolio.

]]> Comment on BEA Event Server Fixed Income Demo by mailsamd http://newyorkscot.wordpress.com/2007/09/19/bea-event-server-fixed-income-demo/#comment-3019 mailsamd Thu, 13 Dec 2007 09:15:10 +0000 http://newyorkscot.wordpress.com/2007/09/19/bea-event-server-fixed-income-demo/#comment-3019 have to say, these demos look very 'attractive' if thats the right word, but I assume they are not an actual representation of what ends up on the users desktop right? have to say, these demos look very ‘attractive’ if thats the right word, but I assume they are not an actual representation of what ends up on the users desktop right?

]]> Comment on Prime Brokerage Article by Robert http://newyorkscot.wordpress.com/2006/06/05/prime-brokerage-article/#comment-3016 Robert Wed, 05 Dec 2007 23:04:55 +0000 https://newyorkscot.wordpress.com/2006/06/05/prime-brokerage-article/#comment-3016 Well, I cant agree more. Well, I cant agree more.

]]> Comment on BNP Paribas Stops Pricing ABS funds by Doug http://newyorkscot.wordpress.com/2007/08/13/bnp-paribas-stops-pricing-abs-funds/#comment-2884 Doug Mon, 13 Aug 2007 16:56:18 +0000 http://newyorkscot.wordpress.com/2007/08/13/bnp-paribas-stops-pricing-abs-funds/#comment-2884 Agreed. Marc Andreessen made this post. Terrifying headline of the day Bush sought to reassure jittery stock investors. http://blog.pmarca.com/2007/08/terrifying-head.html Agreed.

Marc Andreessen made this post.

Terrifying headline of the day

Bush sought to reassure jittery stock investors.

http://blog.pmarca.com/2007/08/terrifying-head.html

]]> Comment on Bad Functional Specifications by gus http://newyorkscot.wordpress.com/2007/07/12/bad-functional-specifications/#comment-2859 gus Fri, 13 Jul 2007 16:46:47 +0000 http://newyorkscot.wordpress.com/2007/07/12/bad-functional-specifications/#comment-2859 * It makes liberal use of buzz-words such as "leverage" and "synergize" * It refers to other docs which are either hard to come by or non-existent. * It tells you to ask a specific person for details (said person may or may not even work for the given organization any more). * It makes liberal use of buzz-words such as “leverage” and “synergize”
* It refers to other docs which are either hard to come by or non-existent.
* It tells you to ask a specific person for details (said person may or may not even work for the given organization any more).

]]> Comment on Distributed Cache Provider Updates by Cameron Purdy http://newyorkscot.wordpress.com/2007/02/16/distributed-cache-provider-updates/#comment-181 Cameron Purdy Sat, 17 Feb 2007 20:30:32 +0000 http://newyorkscot.wordpress.com/2007/02/16/distributed-cache-provider-updates/#comment-181 The Coherence for .NET public announcement hasn't been made yet, as we were waiting for a couple banks to take their pilots into production, to act as reference accounts. Unfortunately (tongue-in-cheek!), our sales team started pushing it heavily in advance of its GA release, and so its use is already spreading rapidly. As a result, we've seen it in a number of bake-offs and competitive POCs. While the names and specific results are all confidential, we have won 100% of the bake-offs and POCs, and there is quite a buzz building around the product. It's fast. Very fast. And it works. Very well. And pretty soon, we'll be able to say the same for C++ ;-) Peace, Cameron Purdy <a href="http://www.tangosol.com/" rel="nofollow">Tangosol Coherence: Data Grid for Java and .NET</a> The Coherence for .NET public announcement hasn’t been made yet, as we were waiting for a couple banks to take their pilots into production, to act as reference accounts. Unfortunately (tongue-in-cheek!), our sales team started pushing it heavily in advance of its GA release, and so its use is already spreading rapidly. As a result, we’ve seen it in a number of bake-offs and competitive POCs. While the names and specific results are all confidential, we have won 100% of the bake-offs and POCs, and there is quite a buzz building around the product. It’s fast. Very fast. And it works. Very well.

And pretty soon, we’ll be able to say the same for C++ ;-)

Peace,

Cameron Purdy
Tangosol Coherence: Data Grid for Java and .NET

]]> Comment on About by Nick Price http://newyorkscot.wordpress.com/about/#comment-107 Nick Price Wed, 29 Nov 2006 19:19:23 +0000 /about/#comment-107 Ross- hello from Edinburgh! Good to see you around again, hope family are well? Well I would have thought I would have had a call about LAB 49 opening in London, what's going on and how do we get involved? Mail me sometime - Careercare no more, re-branded to Bright Purple, what do you think? Ross- hello from Edinburgh! Good to see you around again, hope family are well? Well I would have thought I would have had a call about LAB 49 opening in London, what’s going on and how do we get involved? Mail me sometime - Careercare no more, re-branded to Bright Purple, what do you think?

]]> Comment on High Performance on Wall St: FPGA by FPGAs & autoquoting « Coding the markets http://newyorkscot.wordpress.com/2006/09/20/high-performance-on-wall-st-fpga/#comment-23 FPGAs & autoquoting « Coding the markets Sat, 23 Sep 2006 07:03:11 +0000 http://newyorkscot.wordpress.com/2006/09/20/high-performance-on-wall-st-fpga/#comment-23 [...] NewYorkScot summarises the High Performance on Wall St conference. Nice one! I guess we won’t be putting our pricing engine on FPGA any time soon. While minimal latency pricing is critical for fixed income autoquoting systems, flexibility is top priority too. Those crazy traders want to twiddle their pricing models intraday. And they want new pricing models all the time too… Posted in coding, trading | [...] [...] NewYorkScot summarises the High Performance on Wall St conference. Nice one! I guess we won’t be putting our pricing engine on FPGA any time soon. While minimal latency pricing is critical for fixed income autoquoting systems, flexibility is top priority too. Those crazy traders want to twiddle their pricing models intraday. And they want new pricing models all the time too… Posted in coding, trading | [...]

]]> Comment on SIA Show: Some Random Comments by newyorkscot http://newyorkscot.wordpress.com/2006/06/23/sia-show-some-random-comments/#comment-20 newyorkscot Tue, 05 Sep 2006 13:29:48 +0000 https://newyorkscot.wordpress.com/2006/06/23/sia-show-some-random-comments/#comment-20 Hi Cameron .. yeah some good stuff .. I have already spoken to some of your guys, including them having done a tech presentation to our engineers. Hi Cameron .. yeah some good stuff .. I have already spoken to some of your guys, including them having done a tech presentation to our engineers.

]]> Comment on SIA Show: Some Random Comments by Cameron Purdy http://newyorkscot.wordpress.com/2006/06/23/sia-show-some-random-comments/#comment-19 Cameron Purdy Tue, 05 Sep 2006 04:24:07 +0000 https://newyorkscot.wordpress.com/2006/06/23/sia-show-some-random-comments/#comment-19 > Tangosol has some interesting functionality for abstracting the I/O > of data from the underlying datastore. Glad to hear you find it interesting. We've got quite a bit more as well. If you get a chance, check out some of the articles on our wiki: http://wiki.tangosol.com/ There are a huge number of capabilities for large-scale applications, including for data-intensive compute loads, transactional systems, real-time risk, etc. Peace. > Tangosol has some interesting functionality for abstracting the I/O
> of data from the underlying datastore.

Glad to hear you find it interesting. We’ve got quite a bit more as well. If you get a chance, check out some of the articles on our wiki:

http://wiki.tangosol.com/

There are a huge number of capabilities for large-scale applications, including for data-intensive compute loads, transactional systems, real-time risk, etc.

Peace.

]]> Comment on Financial Services: Innovation & Patents by mdavey http://newyorkscot.wordpress.com/2006/08/15/financial-services-innovation-patents/#comment-17 mdavey Tue, 15 Aug 2006 22:51:32 +0000 https://newyorkscot.wordpress.com/2006/08/15/financial-services-innovation-patents/#comment-17 http://appft1.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PG01&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.html&r=1&f=G&l=50&s1=%2220050144174%22.PGNR.&OS=DN/20050144174&RS=DN/20050144174 http://appft1.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PG01&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.html&r=1&f=G&l=50&s1=%2220050144174%22.PGNR.&OS=DN/20050144174&RS=DN/20050144174

]]> Comment on Burndown Charts, Wikis & Spreadsheets by newyorkscot http://newyorkscot.wordpress.com/2006/07/21/burndown-charts-wikis-spreadsheets/#comment-16 newyorkscot Mon, 24 Jul 2006 13:07:21 +0000 https://newyorkscot.wordpress.com/2006/07/21/burndown-charts-wikis-spreadsheets/#comment-16 Ross Mayfield -- I look forward to checking it out .. Ross Mayfield — I look forward to checking it out ..

]]>