Fred Federspiel | |
|---|---|
 | |
| Born | June 5, 1963 |
| Nationality | American |
| Alma mater | University of Illinois at Urbana-Champaign |
Fred Federspiel is an American technology entrepreneur, nuclear physicist and inventor.
Fred Federspiel | |
|---|---|
| | |
| Born | June 5, 1963 |
| Nationality | American |
| Alma mater | University of Illinois at Urbana-Champaign |
Fred Federspiel is an American technology entrepreneur, nuclear physicist and inventor.
Born in West Lafayette Indiana in 1963, Federspiel earned a PhD in experimental nuclear physics from the University of Illinois at Urbana–Champaign in 1991, where he led the first self-consistent [1] measurement of the electric and magnetic polarizability of the proton.
In 1993, he married his wife, Carey Mills, with whom he has four children,Harry, Ella,Erin, and Leo. A Baritone Sax enthusiast, he played in professor John Garvey's Jazz band for seven years. In 1991 Federspiel joined Los Alamos National Laboratory where he built the real-time data acquisition and analysis system for the Liquid Scintillator Neutrino Detector experiment, which reported evidence for neutrino oscillations in 1996. [2] In 1997 he joined BiosGroup, and then in 1999 founded e-Xchange Advantage Corporation (e-XA) to deploy technology allowing institutional traders to control the information released to the market about their orders. e-XA became Pipeline Trading Systems LLC, which implemented Federspiel's inventions to reduce the cost inflicted by high-frequency trading on institutional trade execution. [3] [4] Federspiel's block market invention [5] [6] was one of two major market structure experiments enabling institutions to direct information dissemination about block orders to likely trading counterparties, the other notable example being Liquidnet. In 2011, Pipeline reached a settlement with the Securities and Exchange Commission (SEC) over allegations that a Pipeline affiliate may have traded with Pipeline customer orders without adequate disclosure. [7] Federspiel agreed to pay the SEC $100,000 to settle the matter. Federspiel is currently CEO and Founder of Dart Video Communications, provider of Home Dart, a real-time video text messaging tool for real estate professionals. In 2020 Fred joined AlgoCortex LLC to improve the efficiency of the trading process through intelligent automation and preserve the hard-earned assets of institutional investors and their clients.
Federspiel is an inventor on US patents covering the display of market data, [8] the design of trading systems, [6] mechanisms to disseminate order information, and mechanisms to incentivize liquidity providers to provide quality trades to block trading systems. [9]
A neutrino is a fermion that interacts only via the weak interaction and gravity. The neutrino is so named because it is electrically neutral and because its rest mass is so small (-ino) that it was long thought to be zero. The rest mass of the neutrino is much smaller than that of the other known elementary particles. The weak force has a very short range, the gravitational interaction is extremely weak due to the very small mass of the neutrino, and neutrinos do not participate in the electromagnetic interaction or the strong interaction. Thus, neutrinos typically pass through normal matter unimpeded and undetected.
The Sudbury Neutrino Observatory (SNO) was a neutrino observatory located 2100 m underground in Vale's Creighton Mine in Sudbury, Ontario, Canada. The detector was designed to detect solar neutrinos through their interactions with a large tank of heavy water.
Super-Kamiokande is a neutrino observatory located under Mount Ikeno near the city of Hida, Gifu Prefecture, Japan. It is operated by the Institute for Cosmic Ray Research, University of Tokyo with the help of an international team. It is located 1,000 m (3,300 ft) underground in the Mozumi Mine in Hida's Kamioka area. The observatory was designed to detect high-energy neutrinos, to search for proton decay, study solar and atmospheric neutrinos, and keep watch for supernovae in the Milky Way Galaxy.
An electronic communication network (ECN) is a type of computerized forum or network that facilitates the trading of financial products outside traditional stock exchanges. An ECN is generally an electronic system that widely disseminates orders entered by market makers to third parties and permits the orders to be executed against in whole or in part. The primary products that are traded on ECNs are stocks and currencies. ECNs are generally passive computer-driven networks that internally match limit orders and charge a very small per share transaction fee.
The Small-Order Execution System (SOES) was a system to facilitate clearing trades of low volume on Nasdaq. It has been phased out and is no longer necessary.
A solar neutrino is a neutrino originating from nuclear fusion in the Sun's core, and is the most common type of neutrino passing through any source observed on Earth at any particular moment. Neutrinos are elementary particles with extremely small rest mass and a neutral electric charge. They only interact with matter via weak interaction and gravity, making their detection very difficult. This has led to the now-resolved solar neutrino problem. Much is now known about solar neutrinos, but research in this field is ongoing.
Algorithmic trading is a method of executing orders using automated pre-programmed trading instructions accounting for variables such as time, price, and volume. This type of trading attempts to leverage the speed and computational resources of computers relative to human traders. In the twenty-first century, algorithmic trading has been gaining traction with both retail and institutional traders. A study in 2019 showed that around 92% of trading in the Forex market was performed by trading algorithms rather than humans.
In finance, market data is price and other related data for a financial instrument reported by a trading venue such as a stock exchange. Market data allows traders and investors to know the latest price and see historical trends for instruments such as equities, fixed-income products, derivatives, and currencies.
A trading room gathers traders operating on financial markets. The trading room is also often called the front office. The terms "dealing room" and "trading floor" are also used, the latter being inspired from that of an open outcry stock exchange. As open outcry is gradually replaced by electronic trading, the trading room becomes the only remaining place that is emblematic of the financial market. It is also the likeliest place within the financial institution where the most recent technologies are implemented before being disseminated in its other businesses.
T2K is a particle physics experiment studying the oscillations of the accelerator neutrinos. The experiment is conducted in Japan by the international cooperation of about 500 physicists and engineers with over 60 research institutions from several countries from Europe, Asia and North America and it is a recognized CERN experiment (RE13). T2K collected data within its first phase of operation from 2010 till 2021. The second phase of data taking is expected to start in 2023 and last until commencement of the successor of T2K – the Hyper-Kamiokande experiment in 2027.
Hyper-Kamiokande is a neutrino observatory and experiment under construction in Hida, Gifu and in Tokai, Ibaraki in Japan. It is conducted by the University of Tokyo and the High Energy Accelerator Research Organization (KEK), in collaboration with institutes from over 20 countries across six continents. As a successor of the Super-Kamiokande and T2K experiments, it is designed to search for proton decay and detect neutrinos from natural sources such as the Earth, the atmosphere, the Sun and the cosmos, as well as to study neutrino oscillations of the man-made accelerator neutrino beam. The beginning of data-taking is planned for 2027.
The Kamioka Observatory, Institute for Cosmic Ray Research, University of Tokyo is a neutrino and gravitational waves laboratory located underground in the Mozumi mine of the Kamioka Mining and Smelting Co. near the Kamioka section of the city of Hida in Gifu Prefecture, Japan. A set of groundbreaking neutrino experiments have taken place at the observatory over the past two decades. All of the experiments have been very large and have contributed substantially to the advancement of particle physics, in particular to the study of neutrino astronomy and neutrino oscillation.
Direct market access (DMA) is a term used in financial markets to describe electronic trading facilities that give investors wishing to trade in financial instruments a way to interact with the order book of an exchange. Normally, trading on the order book is restricted to broker-dealers and market making firms that are members of the exchange. Using DMA, investment companies and other private traders use the information technology infrastructure of sell side firms such as investment banks and the market access that those firms possess, but control the way a trading transaction is managed themselves rather than passing the order over to the broker's own in-house traders for execution. Today, DMA is often combined with algorithmic trading giving access to many different trading strategies. Certain forms of DMA, most notably "sponsored access", have raised substantial regulatory concerns because of the possibility of a malfunction by an investor to cause widespread market disruption.
In finance, a dark pool is a private forum for trading securities, derivatives, and other financial instruments. Liquidity on these markets is called dark pool liquidity. The bulk of dark pool trades represent large trades by financial institutions that are offered away from public exchanges like the New York Stock Exchange and the NASDAQ, so that such trades remain confidential and outside the purview of the general investing public. The fragmentation of electronic trading platforms has allowed dark pools to be created, and they are normally accessed through crossing networks or directly among market participants via private contractual arrangements. Generally, dark pools are not available to the public, but in some cases, they may be accessed indirectly by retail investors and traders via retail brokers.
High-frequency trading (HFT) is a type of algorithmic trading in finance characterized by high speeds, high turnover rates, and high order-to-trade ratios that leverages high-frequency financial data and electronic trading tools. While there is no single definition of HFT, among its key attributes are highly sophisticated algorithms, co-location, and very short-term investment horizons in trading securities. HFT uses proprietary trading strategies carried out by computers to move in and out of positions in seconds or fractions of a second.
Flash trading, otherwise known as a flash order, is a marketable order sent to a market center that is not quoting the industry's best price or that cannot fill that order in its entirety. The order is then flashed to recipients of the venue's proprietary data feed to see if any of those firms wants to take the other side of the order.
The May 6, 2010, flash crash, also known as the crash of 2:45 or simply the flash crash, was a United States trillion-dollar flash crash which started at 2:32 p.m. EDT and lasted for approximately 36 minutes.
An Execution management system, or EMS, is an application utilized by traders designed to display market data and provide seamless and fast access to trading destinations for the purpose of transacting orders. This application contains broker provided and independent algorithms such as TWAP and VWAP, global market data and technology that is able to help predict certain market conditions. One of the important features of EMS is the capacity to manage orders across multiple trading destinations such as stock exchanges, stock brokerage firms, crossing networks and electronic communication networks.
Pipeline Trading Systems LLC operated private equities and options trading systems from 2004 to 2012. As an agency broker, it offered equities traders two methods for trading large blocks of stock with minimal impact on price: a crossing network, and an algorithm switching engine. In 2011, it agreed to settle the action brought by the Securities and Exchange Commission regarding the disclosure of the activities of its liquidity providing affiliate between 2004 and 2010.
Investors Exchange (IEX) is a stock exchange in the United States. It was founded in 2012 in order to mitigate the effects of high-frequency trading. IEX was launched as a national securities exchange in September 2016. On October 24, 2017, it received regulatory approval from the U.S. Securities and Exchange Commission (SEC) to list companies. IEX listed its first public company, Interactive Brokers, on October 5, 2018. The exchange said that companies would be able to list for free for the first five years, before a flat annual rate of $50,000. On September 23, 2019, it announced it was leaving its listing business.