Tue, May 3, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Chicago is where innovation happens

Wednesday, November 27, 2013

amb
Chris Dopp
Benedicte Gravrand, Opalesque Geneva:

Chicago is different from other financial centres, it was said during the recent Opalesque Chicago Roundtable. For a start, in Chicago, the birthplace of the futures market, tends to be more structural and more derivatives focused. Furthermore, it is where innovation occurs.

Two or three years ago, people in Chicago only cared about "getting faster". But now that technology has become speedier, "the cost to get to the minimal level of competitive latency has come down," said Chris Dopp, Senior Vice President with the Buy-Side Business Development team at Eurex Exchange. "Everyone is fast now."

Dopp observed that in the last 12 months, capital allocation has shifted from technology investments toward research, as people want to build better algorithms.

"Some have called it the Smart Trading Trend," he added. "We see this as a
 rather significant evolutionary change here in Chicago."

"30 years ago on the trading floors, you would physically hand in order for execution and that person would run it into the pit," he recalls. "Then, a system of hand signals was developed, because it was faster to flash the order than physically running. Later, direct headsets were introduced so that people could not see large orders being flashed into the pit." Then you had the electronic markets, the click of a mouse, automation and algorithms. It is all ab......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n