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Headshot of Lucerna CEO Jacob Loveless

Jacob Loveless, Lucera

Two phrases that never seem to go together are “high performance” and “hosted cloud computing,” but two-year old startup Lucera looks to change the industry’s mind with its aptly named Compute offering.

Most marquee cloud providers typically focus on driving down computing costs through server consolidation, explained Jacob Loveless, CEO of Lucera. “It’s very cheap in every meaning of the word.”

The cloud-computing and connectivity service provider, which Cantor Fitzgerald spun out in 2013, has invested heavily in the necessary real estate and high-performance servers systems that public-cloud operators typically shun.
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William Goodbody headshot

Bill Goodbody,
BATS Global Markets

Since completing its acquisition of Hotspot institutional foreign-exchange (FX) market earlier this month, BATS Global Markets officials have not let the grass grow under their feet.

The global exchange operator plans to deploy an instance of its Hotspot matching engine in its Slough facilities later this year.

“We plan to move swiftly with this project to meet the demand from European customers,” said Bill Goodbody, senior vice president, foreign exchange at BATS.

The new matching engine will target the currencies that dominate trading during European and Asian market hours while the original matching engine, which is based in northern New Jersey, will continue to support the North American FX market.

BATS has no immediate plans to deploy a third instance of the Hotspot matching engine specifically for the Asian markets.

“We’re focussing on getting Europe really motoring, and then we’ll look to other regions,” said a BATS spokesperson.

BATS first announced its planned $365 million acquisition of Hotspot from KCG Holdings on January 28 and completed the deal on March 13.

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Author Khaled Aly argues that hardware-based decimal-floating-point arithmetic (DFPA) offerings deliver better FPGA performance for low-latency trading than native binary floating-point arithmetic or software-based DFPA.

Via EE Times.

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Start-up electronic fixed-income trading venue operator Electronifie plans a novel way to bring liquidity to its order-driven market for US corporate bonds, which should launch sometime this quarter.

The vendor’s all-to-all platform consists of a displayed limit-order book and a separate non-displayed mid-point match venue for large-block trades in the 1,500 to 1,700 most liquid CUSIPs from the 300 largest distinct issuers, according to company officials.

Electronifie’s limit-order book will display live executable orders from un-named designated market makers ranging from the $200,000-minimum order size to more than $1 million, officials expect.

Of the three designated market markers already signed by the start-up, “one is bulge-bracket dealer; another has electronic-trading encoded in its DNA; and the third is boutique dealer,” says a spokesperson.

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Traders magazine has published a short piece on whether brokerages could meet the 50-millisecond drift window for their server clocks proposed by FINRA.

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