Category: Financial Services

Provenance™️ helps firms meet new MFID 2 regulatory technology standards

Original Entry by : Stuart Wilson

We attended the Fall STAC summits in Chicago and London recently, and will be at STAC New York on November 7th. At STAC we’ve been talking about Provenance™️, a new feature available now in all our DAG™️10X cards and coming to our EndaceProbe™️ Network Recorders early next year.

New MFID 2 regulatory technology standards (known as RTS 25) for recording trade data will impose tough new standards on HFT firms operating in the European market. Under the new regulations, traders must ensure that timestamps on recorded trade data are accurate to at least 1 microsecond granularity and synchronised to UTC with a maximum divergence of less than 100 microseconds. They must also be able to demonstrate traceability to UTC by documenting the system design, functioning and specifications. There’s a few technical hurdles to clear to meet those requirements and Provenance is how we ensure you don’t knock any over.

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Endace Timing Whitepaper

Original Entry by : Endace
When accurate timing is everything

PTP Timing WhitepaperFor many organizations, highly accurate timing is critical to providing accurate audit trails, allowing accurate reconstruction of events for security
forensics or troubleshooting microburst performance issues.

Endace CTO, Dr. Stephen Donnelly, has put together a whitepaper based on the presentation which he and Endace CEO, Stuart Wilson, presented at STAC conferences in London, Chicago and New York recently, which looks at the accuracy of PTP (IEEE 1588) timing in a live High Frequency Trading (HFT) WAN environment.

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MiFID II, Timing and STAC

Original Entry by : Endace

For high frequency traders (HFTs), complying with new obligations that will come into force under MiFID II, and proving compliance, will pose some significant technical challenges.

Stephen Donnelly, Endace’s CTO, gave a presentation comparing GPS and PTP timing accuracy at the STAC Summit in London (May 10) and he will also be presenting at STAC Chicago (May 17). Endace’s CEO, Stu Wilson, will present at the STAC Summit in New York (June 13).

Stephen also attended STAC’s Essentials of MiFID 2 Time Compliance workshop in London on Monday. This workshop was an excellent opportunity for HFTs to get up-to-speed with what the new MiFID II requirements mean for their organizations and how to prepare for them. More on what came out of this in our next newsletter.

We’re looking forward to the opportunity to catch up with our HFT customers at all three STAC events. If you haven’t yet registered for STAC Chicago or New York but are interested in attending, let us know.

Of NetFlows, Network Security and the Godfather…at Interop NY 2013

Original Entry by : Sonny Singh

There is something very “je ne sais quoi” about traveling to New York which brings out the “I wanna be Michael Corleone” in me. The first step in my ritualistic preparatory precursor is that I break out my extensive catalog of Frank Sinatra tunes and drink a stiff martini (dirty, with extra olives).  Every time I leave for New York, I take the time to re-learn every quotable line from my Godfather trilogy Blu-Ray box set (well, except for part three because it was a travesty) because having a tradeshow in New York and not honing in my “Godfather” lingo would be sacrilegious when speaking to partners and customers. It’s equally crucial to maintain that visage of confidence and cool collectiveness that only Marlon Brando could pull off while sitting at the table during one of his many sit-downs (or Robert DeNiro in “The Godfather Part II”). That said, the standard khaki slacks and one-size fits all black company logoed trade-show booth pullover are not exactly the cut of clothes that Michael Corleone favored, so I guess I’ll have to keep dreaming…

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