Latest opinions that Iosif Itkin has shared on Finextra

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Iosif Itkin

CEO

Exactpro

Member since

17 Dec 2008

Location

London

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Iosif's opinions

TTLiquidity: what could be a single big improvement in SOR?

The TradTech Liquidity event was very good this year. It provides a good outlook on the state of the industry as well as perfect networking opportunities. Personally, I enjoyed the panel on How Smart Are Smart Order Routers? the most. The final question in this panel was if there is any revolutionary improvement that can happen in Smart Order Routi...

25 November 2009 MiFID

Consolidated tape and cost of surveillance systems

There is a set of vendor solutions available already to provide EBBO. Technology development and competition will enable buy-side to obtain a reasonable benchmark for the best-execution. On the other hand, regulators should carefully assess demands for changing market data prices, as revenues from market data services are accompanied by the costs ...

01 November 2009 MiFID

Cinnober on latency

Cinnober just announced the publication of an in-depth whitepaper on latency on their web site: http://www.cinnober.com/files/A_Cinnober_whitepaper_on_latency_1.pdf The paper contains a much more detailed explanation for the items discussed in my previous post. Taking into account that the figure (286 mks for door-to-door and 138 mks for busin...

22 October 2009 Banking Architecture

Sub-Millisecond Latency: One Figure, Many Dimensions

So, there are two matching engines claiming 100mks latency: Gatelab and MillenniumIT. This post is neither about arguing whether industry and especially buy-side really needs such enormous achievements (being an IT person I support further advances in the trading technology) or about any particular platform. It is just a reflection on the figure i...

13 October 2009 MiFID

Dark pools rulebook transparency

Would it be fair to say that the regulators should care about all types of legitimate participants even for market operators? The climate for institutional investors is not extremely warm after MiFID, and we have to look forward for dark liquidity offerings that will re-establish the balance. The ambiguity of FSA’s position does not help the indus...

03 March 2009 MiFID

New MTF web site and trading support in Eastern Europe

It is actually exciting to find out that a new MTF will soon join the market. I would be interested to learn more about the new venue. Unfortunately, no detailed information is currently available, and the web site looks as if it’s still under construction. I hope that there will be more information available shortly. On the one hand, we have Smar...

10 February 2009 MiFID

Hedge fund spending - SOR vs. RMS

To be honest, I remain skeptical about the necessity to invest heavily into Risk Management technology. It seems to me that the issue is not in software or hardware but in general assumptions and practices. Let’s take pricing and valuation - server farms with thousands of servers running Monte-Carlo and stress tests for structured products did not...

06 January 2009 /regulation MiFID