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1 Markets I: The Ecosystem and Exchange-Traded Marketsالأسواق عبر الإنترنت 2 Markets II: Rates, FX and Creditالأسواق عبر الإنترنت 3 Markets III: Commodities, Energy and Cryptoالأسواق عبر الإنترنت 4 Quantitative Methodsالأساليب عبر الإنترنت 5 Derivatives and Volatilityالمشتقات عبر الإنترنت 6 Rates, Credit, XVA and Riskالفائدة والائتمان والمخاطر عبر الإنترنت 7 Research Craft: Predictors, Backtests, Measurement, Portfoliosالبحث عبر الإنترنت 8 Strategies I: Equities and Futuresالاستراتيجيات عبر الإنترنت 9 Strategies II: Volatility, Relative Value, Macro and the Bank Desksالاستراتيجيات عبر الإنترنت 10 Microstructure and Executionالتنفيذ عبر الإنترنت 11 Market Making and High-Frequency Tradingصناعة السوق عبر الإنترنت 12 Machine Learning for Marketsتعلم الآلة عبر الإنترنت 13 Low-Latency Softwareالتكنولوجيا عبر الإنترنت 14 Networks, Hardware and Trading Infrastructureالتكنولوجيا عبر الإنترنت 15 Research, Data and Risk Platformsالتكنولوجيا عبر الإنترنت 16 The Desk and the Firmالشركة عبر الإنترنت 17 The Industry: Firms, Roles and Careersالمسارات المهنية عبر الإنترنت 18 The Interview Bookالمسارات المهنية عبر الإنترنت
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Quantitative Finance · المسرد

ما معنى Hybrid trading system؟

Definition 7.6 Networks, Hardware and Trading Infrastructure · الفصل 7 — Programmable Hardware II: Trading Designs

A hybrid trading system splits a strategy between software, which computes its model, positions and parameters at its own pace, and hardware, which applies precomputed decisions to the market data at line rate; software writes the hardware’s registers and reads its counters and copies of what it sent.

The chapter’s hybrid design. Three pipeline stages on the card decode the feed, check each candidate order and patch it into a template; software on the host writes the thresholds, limits and kill bit through the register map and receives copies of everything the card sends.
Figure 7.1. The chapter’s hybrid design. Three pipeline stages on the card decode the feed, check each candidate order and patch it into a template; software on the host writes the thresholds, limits and kill bit through the register map and receives copies of everything the card sends.
One packet with one add-order message (58 bytes: 20 of header, 2 of length, 36 of message) through the design, one beat of 8 bytes a cycle. The price’s last byte arrives in beat 7; the trigger is registered at the end of that cycle, the risk decision one cycle later, and the order in the cycle after: two cycles after the price, ten after the packet’s first byte.
Figure 7.2. One packet with one add-order message (58 bytes: 20 of header, 2 of length, 36 of message) through the design, one beat of 8 bytes a cycle. The price’s last byte arrives in beat 7; the trigger is registered at the end of that cycle, the risk decision one cycle later, and the order in the cycle after: two cycles after the price, ten after the packet’s first byte.
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