Since the JSE adopted SETS – London’s Stock Exchange electronic order book – it has more doubled its trade, showing that technology has an incredible impact on the financial world, writes CHRIS BUCHANAN, Director of Client Solutions at Dell EMC.
In 2002 the Johannesburg Stock Exchange adopted SETS, the London Stock Exchange’s flagship electronic order book. When a 2013 research paper studied the impact of this, it found the JSE was more liquid, had doubled its trade and lowered trading costs. There is no doubt that good technology has an incredible impact on the fast-moving yet nuanced world of financial trading.
Modern-day financial trading floors are a far cry from the noisy, frantic telephone-centred scenes of the 1980s. Significant upward trends in computing, data distribution and automated trading techniques have placed IT at the core of these environments. Trading floors are now dynamic hotbeds of IT innovation, where latency is king, and where even a few minutes of downtime can result in multi-million dollar losses. At the New York Stock Exchange, computers even have the exact same cable lengths so one doesn’t beat any others by being a little shorter and therefore faster to the mark.
But this is placing IT management teams under intense pressure to ensure operating environments are perfect. Whether performing maintenance, patching vital software updates, carrying out regular moves/adds/changes (MACs) according to traders’ requirements or ensuring processes are compliant with ever-changing security regulations, these teams have their work cut out.
With these unique challenges, organisations can benefit from Virtual Desktop Infrastructure (VDI) – the practice of hosting a desktop operating system within a virtual machine running on a centralised server, with users accessing this virtual environment through any endpoint device. When assessing how best to adapt their IT strategy there are a number of areas financial trading houses should consider:
The first of these is IT management. On a trading floor, MACs – a set of tasks that IT teams regularly perform to keep computing equipment up-to-date and aligned with user requirements – happen continuously. With traders regularly relocating and demanding ever-so-slightly different configurations of hardware and software – IT teams can find themselves on a carousel of moving parts, each one scrutinised.
The prevalence of multiple devices and mobile working compounds this challenge – laptops must be kept up to date and software applications patched to mobile devices so that trades can be executed on the move. For many financial institutions, this array of devices often includes multiple PCs per trader – sometimes one per monitor – which must be moved and managed individually.
With VDI, workstations are moved to the datacenter and can be replaced by location-agnostic thin clients, which are centrally configured, eliminating the need for a member of the IT team to visit the user’s desk. Utilising thin clients improves reliability and, in the case of MACs, enables immediate reconfiguration, getting the trader back online and sustaining invaluable uptime. For this reason, organisations such as Kotak Securities have implemented thin clients in order to benefit from the devices’ secure, high performance capabilities, and reduce the IT management burden.
Software deployments present another significant challenge for IT. Traders use customised application sets for news monitoring, price analysis and communication, amongst a range of other purposes. Deploying and updating these manually, across the myriad of devices, is time-intensive and adds further weight to the IT management workload.
With virtual desktops, all software deployments and updates are administered centrally, enabling the complex web of applications to be coordinated from a single system. Not only does this reduce time spent “keeping the lights on”, but also enables IT teams to focus on innovation. In a world where IT innovation can lead to millions in additional revenue, this is a significant ‘value-add’.
Security and compliance
Amongst the IT management issues regularly faced by financial institutions, security is also close to the top of the list. As data protection regulation continues to tighten and malware techniques become more varied, monitoring endpoints and storage methods becomes a business necessity.
For trading houses handling market-sensitive information, this level of protection is nothing new. Many organisations already utilise virtual desktops to remain aware of where their data resides and how it is communicated both internally and externally. With all data held in the datacenter, information is secure, and reporting/auditing is more straightforward.
The threat of malware is, comparatively, a new challenge. For traders on the move, even when operating in a virtualized environment, it is essential to keep endpoints safe from would-be hackers. To do so, organisations can patch embedded endpoint security software. This additional layer of threat protection ensures vital information is kept safe and is easily managed across all devices.
The final challenge for financial trading houses seeking to get more from their IT is its impact on energy consumption. In terms of building regulations, many of the world’s financial offices are already maxed out in terms of energy usage, not least because datacenters are often housed on site. Moving workstations to the datacenter and replacing with low energy consumption desktops, such as thin clients, has a significant impact on power consumption, and air-con demands. VDI also enables more straightforward integration of hybrid cloud storage techniques, again, removing power-intensive datacenter components from the building.
VDI is helping the financial sector to overcome some of its core IT challenges. Through centralized client management across a range of devices, companies no longer have to dispatch technicians to traders’ desk or to remote deployments. Traders are not disrupted, and IT personnel can execute repairs and software upgrades in minutes rather than hours. This frees up time for IT innovation, all while ensuring vital data is kept safe.
To ease the regulatory and budget pressures facing IT departments across the finance industry, VDI is a safe bet.
ConceptD: Creatives get a tech brand of their own
The unveiling of a new brand by Acer recognises the massive computing power needed in creative professions, writes ARTHUR GOLDSTUCK
It’s a crisp Spring morning in Brooklyn. The regular water taxi from Manhattan pulls up at Duggal Greenhouse on the edge of the East River. It’s a building that symbolises the rejuvenation of Brooklyn as a hub of artistic and creative expression.
Inside the vast structure, global computer brand Acer is about to unveil its own tribute to creativity. Company CEO Jason Chen takes to the stage in faded blue jeans and brown t-shirt, underlining the connection of the event to the informality of the area.
“Brooklyn is become more and more diverse,” he tells a gathering of press from around the world, attending the Next@Acer media event. “It’s an area that is up and coming. It represents new lifestyles. And our theme today is turning a new chapter for creativity.”
Every year, Next@Acer is a parade of the cutting edge in gaming and educational laptops and computers. New devices from sub-brands like Predator, Helios and Nitro have gamers salivating. This year is no different, but there is a surprise in store, hinted in Chen’s introduction.
As a grand finale, he calls on stage Angelica Davila, whose day job is senior marketing manager for Acer Latin America. But she also happens to have a Masters degree in computer and electric engineering. A stint at Intel, where she joined a sales and marketing programme for engineers, set her on a new path.
For the last few months, she has been helping write Acer’s next chapter. She has shepherded into being nothing less than a new brand: ConceptD.
Click here to read more about ConceptD.
Which voice assistant wins battle of translators?
Take the most famous phrase from the Godfather – “I’m going to make him an offer he can’t refuse” – or “The only thing we have to fear is fear itself” from the inaugural address of US President Franklin Delano Roosevelt and see just how the virtual assistants do in translating them using their newly introduced Neural Machine Translation (NMT) capabilities. One Hour Translation (OHT), the world’s largest online translation service, conducted a study to find out just how accurate these new services are.
OHT used 60 sentences from movies and famous people ranging from the Godfather and Wizard of Oz to Neil Armstrong, the first man to set foot on the moon, US presidents Franklin Delano Roosevelt and John Fitzgerald Kennedy and historical figures like Leonardo da Vinci and Aesop. The sentences were translated by Google Assistant, Amazon’s Alexa and Apple’s Siri from English to French, Spanish, Chinese and German and then given to five professional translators for their assessment on a scale of 1-6.
Google Assistant scored highest in three of the four languages surveyed – English to French, English to German and English to Spanish and second in English to Chinese. Amazon’s Alexa, whose translation engine is powered by Microsoft Translator, was tops in the English to Chinese category. Apple’s Siri was second place in English to French and English to Spanish and third place in English to German and English to Chinese. (See chart). All three virtual assistants are compatible with mobile phones.
“The automated assistants’ translation quality was relatively high, which means that assistants are useful for handling simple translations automatically,” says Yaron Kaufman, chief marketing officer and co-founder of OHT. He predicts that “there is no doubt that the use of assistants is growing rapidly, is becoming a part of our lives and will make a huge contribution to the business world.”
A lot will depend on further improvements in NMT technology, which has revolutionized the field of translation over the past two years. All the companies active in the field are investing large sums as part of this effort. “OHT is working with several of the leading NMT providers to improve their engines through the use of its hybrid online translation service that combines NMT and human post-editing,” notes Kaufman. He adds that this will no doubt have a huge impact on the use of assistants for translation purposes.
OHT has made a name for itself in assessing the level of translations by NMT engines. Its ONEs Evaluation Score is a unique human-based assessment of the leading NMT engines conducted on a quarterly basis and used as an industry standard.