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Spoofing, Surveillance and Supervision

Jay Biondo, Product Manager - Surveillance at Trading Technologies, co-authored an article along with James Lundy and Nicholas Wendland, both of Drinker Biddle & Reath LLP, reviewing the CFTC's regulations and expanding efforts, 21st century surveillance and supervision, as well as strategic recommendations.

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March 9, 2009

youDevise Pushes Ideas Straight to Black Boxes

By James Ramage

Good trading ideas and information can never reach high-frequency traders fast enough. One technology vendor, youDevise, which started in London and has a New York office, added a feature to its investment research tool to "push" brokers' ideas directly to high-speed and black-box traders almost instantaneously.

youDevise designed the feature for its Trade Ideas Monitor-a service that enables analysts and sales traders to send their stock recommendations and trading ideas to targeted buyside clients through a Web-based, front-end system. The new "push" XML technology feeds those ideas into the algo and black-box trading systems that have signed up for them, said Timothy Murphy, U.S. general manager for the TIM, with youDevise.

"The modus operandi of some high-frequency traders is looking to see what's moving the market; they're looking for news headlines, anything new, like sentiment change," Murphy said. "With the TIM's XML feed, sales traders transmit ideas and recommendations into a client's database, letting a high-frequency trader execute on them immediately."

The XML feed, according to youDevise, is much faster and more reliable than email or phone calls-the traditional methods used to deliver ideas.

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