From the Back Cover
Praise for Architects of Electronic Trading
"Within the financial industry, it is rare to encounter a work about innovation that is not focused on mathematical models or regulation-driven market structure changes. Architects of Electronic Trading is a refreshing standout, focusing on the rapid technological innovation driven by a niche sector of the financial industry. Ms. Hammer strikes a balance of introducing complex technical concepts to the layperson, while discussing cutting-edge topics of interest to practitioners. Her work aptly captures the inspirational excitement and optimism of these little known innovators and entrepreneurs."
--Jennifer Wilson, Partner, DRW Trading Group
"Technology in electronic trading is much more than just squeezing out the last microseconds of latency. This book gives a broad overview of many other important uses of technology such as risk control, data quality, and automation, focusing on key people and how they see their challenges. This novel approach makes it a very interesting view into the modern landscape of electronic trading."
--Robert Almgren, PhD, President and cofounder, Quantitative Brokers
"The industrialization of financial services in general, and trading in particular, did not change much from the seasonal fairs and markets of the middle ages through the 20th century. The great leap was the coming of the digital age that allowed for straight-through processes, scalability and analysis of large amounts of data, and complex parametrics in real time. This book is a comprehensive survey of the motivations, expectations, risks, and successes of the architects in their harnessing the potential of these new technologies. For those looking to the future, Architects of Electronic Trading provides ample food for thought directly from the true architects themselves."
--Richard Heckinger, Vice President and Senior Policy Advisor, Financial Markets Group, Federal Reserve Bank of Chicago
"Architects of Electronic Trading is a valuable resource for anyone who wants to understand what is shaping the financial industry now and which technology is likely to play a role in the future. This book comprises a series of well-presented interviews with experts, whose lucid views provide fascinating insight on a technology-dependent industry that is changing rapidly."
--Adam Cox, Editor-in-Chief, Automated Trader
"Technology is central to today's financial markets, and all areas of the business stand to benefit from this comprehensive presentation of the key technology trends in our industry. Stephanie Hammer's work is unique in that it covers a broad range of innovative applications of technology that normally aren't publicly discussed. By choosing a broad approach rather than a specific area of focus, she succeeds in giving readers a useful 'big picture' perspective."
--Vassilis Vergotis, Executive Vice President, Eurex
"Anthologies about trading have always disappointed me by either being ego-driven 'aren't I wonderful' pieces or an 'alchemist's guide' to markets for the reader who wants to know the secrets of trading. Stephanie has written a book that actually engages the reader in close reading and thoughtful introspection."
--Larry Schulman, CEO, Cheiron Trading LLC
"Stephanie has done a tremendous job in giving the reader an invaluable insight into the minds that have reshaped the trading industry with their innovation, technology, and vision. This book takes on some complex topics and succeeds in making them understandable for all in the markets. I learned a lot."
--Mohan Virdee, CEO and founder, Markets Media
