Tbricks by Itiviti

Earlier this month Orc Group and CameronTec Group united to create Itiviti, a new force in trading software and services. Itiviti continues to develop, market, and support existing technology platforms, products and brands. Tbricks remains the backbone of Itiviti’s trading offering going forward.

This product update is dedicated to trading technology performance.

WiredTiger in Tbricks

Tbricks is powered by an embedded transactional database that vastly outperforms conventional SQL databases. In our constant quest to optimize performance, we have now migrated from our previous in-memory database technology to WiredTiger.

The WiredTiger storage engine is a modern data management technology that delivers rock-solid performance and scalability with workload and data volumes. Key features include more efficient use of I/O, multiple CPU cores and large memory in a single server, while requiring zero maintenance or administration as part of a Tbricks setup.

Now used by most Tbricks clients, reported benefits include better performance and significant reductions in disk usage, where WiredTiger requires 40 – 80% less space than the previous technology. All Tbricks clients are now automatically upgraded and migrated to WiredTiger as part of the standard, automated system upgrade process to Tbricks version 2.7.

New Itiviti white paper

Introduction to performance measurements

Performance is crucial in trading, but the term is loosely defined and ambiguous at best. What exactly does it mean? How can performance be quantified, compared and evaluated? Typically, “performance” in trading technology is understood as the “response speed” to any given action. This white paper focuses on performance measurements in two fundamental concepts:

  • Trading latency in automated exchange trading technology
  • Options market making strategies

Modern automated exchange trading technology is extremely complex and includes hundreds of different critical paths, all of which could potentially be measured. However, measurement effort should be focused on the aspects that truly make a difference as the very action of measuring can have a negative impact on performance if your tools aren’t suited for the job.

Options market making strategies present unique challenges in that they require the trader to have a large passive presence in the market which in turn imposes a high level of risk. The risks associated with significant quote volumes in a large set of options can be minimized by shortening the system’s response speed, especially in controlling the behavior of the “outliers” —  market events that are rare but significant.

To complicate matters further, the critical operations for option market making strategies have a duration ranging from 10 to 100µs, which severely restricts the range of plausible measurement tools available. Very few off-the-shelf measurements tools have the precision required to work in that range.

Itiviti’s white paper (link below) is an introduction to performance measurement tools and best practices. You might also be interested in additional information about execution flow tracing tools and the future of such tools (see links below).

Designed for performance

The principal tenet of Tbricks’ system architecture is also one of its key strengths: “Do the right thing, in the right place, at the right time.” Read more about performance in Tbricks here:

Thank you!

We’re glad that you are interested in product updates from Tbricks. The next update will arrive at the end of March. Thoughts or ideas? Please let me know by responding to this email.