Articles related to quantitative trading and software tools aiding automated investment operations.
Empirica has successfully finished the implementation of its Algorithmic Trading Platform in one of the largest brokerage houses in Poland.
Brokerage house will use our software to:
- aid its internal trading operations, like market making of derivatives on Warsaw Stock Exchange
- offer functionalities of our platform to its institutional clients, which will be able to build, test and execute their own algorithmic trading strategies
Implementation included connecting of our software system directly to the system of the Warsaw Stock Exchange (Universal Trading Platform delivered by NYSE Technologies), as well as the integration with transaction systems of a brokerage house. Additionally, we have fulfilled and successfully passed tests regarding the highest security, stability, and performance requirements.
This implementation is an important milestone for our system. The usage by a team of market makers is proof that our system is capable of performing high-throughput and low latency operations on the level required by most sophisticated traders on the capital markets.
Schedule your appointment right now to learn more
Next implementations of our Algorithmic Trading Platform by customers don’t stop us from developing the platform itself. Working agile requires us to keep the pace in short and frequent iterations, which in case of product means frequent releases, keeping the whole product line stable.
A few iterations that we planned in our 1.3.4 release, code named by our developers ‘The Firebolt’, will include among others:
– even faster real-time replication of all server-side components in master-slave mode (for deployment in larger institutions)
– extended client side backtesting capabilities
– sophisticated charting of backtesting results and statistics
– multiscreen mode of client side application
– additional web-based server-side module for administration & management
For those curious about the release name and unfamiliar with Harry Potter, Firebolt is:
“The state-of-the-art racing broom. The Firebolt has unsurpassable balance and pinpoint precision. Aerodynamic perfection.”
—Harry Potter: Quidditch World Cup
“The Firebolt has an acceleration of 150 miles an hour in ten seconds and incorporates an unbreakable Braking Charm. Price upon request.”
—Harry reads about the features of the Firebolt.
Speed, precision, balance, perfection. These are the words that describe our software, therefore choosing the code name was kind of obvious :).
The Firebolt broom
Empirica’s Algorithmic Trading Platform has successfully passed the XDP protocol communication certification, issued by the Warsaw Stock Exchange.
From now on Empirica is officially listed as the ISV (Independent Software Vendor) for the Warsaw Stock Exchange.
WSE uses the Universal Trading Platform delivered by NYSE Technologies. The same system is used by many other European and world stock exchanges. Fulfillment of technical criteria of the Warsaw Stock Exchange makes certification for those markets only a formality for our platform.
On the first of July 2014 large polish economic magazine Puls Biznesu published an article “The age of robots comes to Warsaw Stock Exchange’. Article is quoting, among others, Empirica’s representatives speaking on the topic of the growth of algorithmic trading in Poland. Excerpts below.
‘Popularization of algorithmic trading on conferences like this one is step in good direction, says Michal Rozanski CEO of Empirica, a company which delivers Algorithmic Trading Platform. Expert says that computers will never replace a human in all the tasks. First and the foremost machines are taking over the processes that human traders had to perform manually. ‘I am sure that the development of algorithmic trading will not change the soul of the markets. It will not change to the race of engineers. It is and always has been the race on new, better ideas.’ says Michal Rozanski.
In his opinion both small and big investors will benefit. ‘Appliance of algorithmic trading tools increases liquidity and descreases bid/ask spreads which in turn decreases transaction cost born by all investors’ adds expert.
Michal Rozanski stresses that appliance of algorithmic trading does not limit to transactions with shortt time horizon, e.g. counted in miliseconds. Each trader can designs algorithms adjusted for it’s own requirements. ‘Let’s imagine an investor who would like to open a large position on KGHM shares or futures on WIG20. To make it happen it’s best to divde the order to tens or hundreds of smaller orders, which allows to hide her intentions from other market participants. Investor remains anonymous and minimizes market impact of her large order.’ explains Michal Rozanski.
‘I am convinced that development of algorithmic trading can be a breakthrough moment in the history of our market, as long as we will treat the matter seriously and deliberately. On Wall Street share of algorithms in total turnover is estimated at 50%, in Europe at 40%, and in Poland still at below 20%. ‘ says Adam Maciejewski, CEO of Warsaw Stock Exchange.
Link to article…
Algorithmic trading workshop took place on 27th of July 2013 as a part of the second conference held by economic magazine ‘Puls Biznesu’ and Warsaw Stock Exchange.
Michał Różański, representing Empirica, held workshop on the practical aspects of selecting tools for algorithmic trading by financial institutions. He stressed and covered in detail, especially one aspect of algorithmic trading which is from our practical experience constantly undervalued – namely proper testing of algorithms.
Very interesting was also a lecture of Emil Lewandowski who showed an algorithm which was able to detect a flash crash an hour before it actually happened. Algorithm was implemented, backtested, executed and presented to all the participants our Algorithmic Trading Platform. It was indeed very interesting example of application of algorithmic trading!
Among other guest were representatives from IBM, Sungard, List and M10.
Link to event:
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Conference on the subject of ‘Algorithmic Trading’ was held at Warsaw Stock Exchange headquarters on the 28th of February 2013. The event was open by the WSE president, Adam Maciejewski. Among the invited guests were:
- Peter Van Kleef, Lakeview Capital president
- Michal Rozanski, CEO of Empirica
- Andrzej Endler, CEO of M10
- Michal Kobza, Warsaw Stock Exchange.
Michal Rozanski from Empirica made lecture on topic ‘Tools supporting financial institutions in algorithmic trading’. He showed not only common functionalities and architectures of available solutions, but also talked about practical aspects of hard decision every financial institution faces – to build software tools by own IT department or to buy from external vendors.
Very interesting was lecture held by Peter Van Kleef. Among other topics he shared his experiences from high frequency trading and how it has changed during last years.
We have informations that organizators intend to prepare soon another event relating to topic of algorithmic trading.
Link: GPW conference
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