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September 18, 2006
Rise of Realtime Databases
The financial services business, like the adult entertainment industry, is the place where new technology trends often first show up. The combination of high payoffs to innovation and significant discretionary spending means that financial services companies are worth tracking, and selling to.I was thinking about that this morning as I was working on some things related to realtime data. I ran across a press release, issued today, from kxsystems on its tie-up with Cantor Fitzgerald. Interesting stuff. Wish I knew kx better, but I don't. Nevertheless, I love to see people talk tech about realtime. Gives me goosebumps.
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Hi Joel,
I presume Cantor picked kx for a good reason. May be they just need the speed and not the cutting edge stuff.
It is interesting and scary to read the following from the press release,
"Everyone talks about realtime risk management, but with kdb+ we actually attain it," said Jacob Loveless, SVP at Cantor. "We've gone beyond simply knowing the risk to being able to act on it in the moment."
I am no expert, but will this kind of thinking lead to the traders taking more and more risk? I am not saying this will lead to LTCM type of mess but anything remotely close to LTCM will be terrible.
Just my 2 cents,
Kempton
Paul, kx/kdb has been around for a while now. A single installation costs around 100k (I think) and the code itself looks very much like line noise. It's very specialized software but it's not a trend-setter by any means. Look into Event Stream Processing to see where the cutting edge is.