Pete Harris is Editor and Publisher of Low-Latency.com. He is also President, Americas and Editor-at-Large at A-Team Group, a publishing, research and events company focused on the deployment of information technologies in the global financial markets. Low-Latency.com is a service of A-Team.
Pete is a regular contributor to A-Team’s coverage of the financial markets IT space, focusing on front-office, low-latency and technology infrastructure.
Before joining A-Team, Pete worked as an independent consultant, advising technology innovators on how to best position their products and services to serve Wall Street and the financial markets.
Prior to working as a technology consultant, Pete held a number of editorial, publishing and management positions – including Editor-in-Chief and President – at Waters Information Services (now Incisive Media). There, he spearheaded the company’s move into events and online services.
Earlier in his career, Pete specialised in software development. In the mid 1980s, he was a project manager and software architect, working in the Advanced Systems Group of the London Stock Exchange. At the LSE, Pete built one of the world’s first digital market data distribution systems, dubbed Radix. He has also held a variety of software management and development roles at Intercom Data Systems (now Fidessa), Knight-Ridder Unicom (since merged into Reuters) and the Financial Times.
Last week I was in Orlando for SAP's SAPPHIRE NOW event, where the main focus was not on the company's highly successful business and data warehouse applications - revenues in 2012 were around $20 billion - but on a product introduced in late 2010 and said to be its fastest selling ever. Named HANA - in a nod to the company's founder and current chairman Hasso Plattner - the product is an in-memory database, and it is a key player in a technology space that is heating up fast, with applications for both low latency and big data applications.
Just a quick post to point back to the recent outing of our Low-Latency Summits, held in New York City on May 1. And also a point forward to our next Summits in the Fall.
Judging by the views of a number of wireless network equipment manufacturers and service providers participating in last week's Low-Latency Summit in New York City, demand from trading firms for low-latency wireless connectivity is strong despite the challenges of reliability, limited bandwidth and cost.
The two leading latency management specialists - Corvil and TS-Associates - released news this week of collaborations, upgrades and strategy.
Chicago-based Victory Networks, which provides co-location and technology services to boutique trading firms, has acquired New York City's SailFish Systems in order to expand its services into new geographies and asset classes.
Perseus Telecom has rolled out a certified time service to allow trading firms to accurately timestamp market data and transactions for regulatory and algorithmic trading purposes. The service taps technology from Certichron, which Perseus is now selling and maintaining at a number of market data centres, with more to come.
Trading system TBricks has rolled out a managed, hosted variant of its automated trading software, and has partnered with S&P Capital IQ to provide market connectivity and data. TBricks OnDemand has been rolled out in Stockholm, London, Frankfurt and Chicago.
Anova Technologies is taking control of a microwave wireless network connecting Equinix's key economic news distribution hub in Washington, DC to Nasdaq OMX's data centre in Carteret, NJ. In so doing, it's directly connecting news sources at lowest latency into the trading markets, allowing firms to trade from signals themselves, and not from responding to market movements driven by them. Think of it as the convergence of big data and low latency, for intelligent trading.
I often describe latency as the time it takes to move data from point A to point B, and/or the time taken to process that data at points A and B. I think it's true to say that the majority of content on this site is about moving data from A to B. But processing data - the C, or compute element, of latency is increasingly a focus.
From time to time, it's good to take the pulse of the low-latency world to get updated on the status quo, and find out what's coming next. Low-Latency.com got such insight from Louis Lovas, director of solutions at OneMarketData.
Today's news that networking specialist Mellanox Technologies is acquiring its smaller rival Voltaire should be positive news for their customers in the financial markets. For those that are supporters of InfiniBand, the merger makes for a bigger company to innovate in that direction. More generally, the combined company will have a strong place in both Ethernet and InfiniBand, as it looks to wire up data centres for everything from low-latency trading to cloud computing - and perhaps be acquired itself down the road?
That would be Brennan Carley of Spread Networks and Kevin Formby of Endace. Sometime very soon - maybe by the time you read this - Spread will be posting continuous latency figures on www.spreadnetworks.com for its NYC to Chicago fibre service, courtesy of Endace's latency monitoring appliance.