Archive for February 2012

Building a global enterprise from scratch

Deep Value from its start began as a distributed organization. From the very beginning the 3 principals where in 3 separate cities – New York, Toronto and Chennai. Today, the primary development, research and operations center are in Chennai with Toronto and Chicago being management, sales and support centers.

To make this work, process and distributed tools are buried deep in our DNA, rather than tacked on after we’ve reach some size were process is needed to move forward. In addition, we needed to focus on our core competencies so we looked for tools to enhance our productivity, rather than trying and build them ourselves. As such we were (and continue to be) on the lookout for great, inexpensive productivity tools.

As such I wanted to share some of the open source and inexpensive tools we’ve utilized to help organize ourselves at Deep Value.

1. Atlassian JIRA and Greenhopper (http://www.atlassian.com)
Getting work done and tracking what you’re doing is key. We used Bugzilla for some time, but given the critical nature of work tracking, we decide that a more robust solution was required. We experimented with several solutions (MS Project (waterfall – arrggg) and TeamWork (www.twproject.com) ) but in the end an agile development methodology is really the best way to build systems in a complex, fluid environment. We wanted to have a centralized system for issues and user stories –  JIRA with GreenHopper works well for this.

2. Codesion (http://codesion.com/)
We needed source control, and having someone manage this securely and safely for a minimal fee, this made sense. As we’ve grown we are looking at doing this on-site, but the cost is low and the service level high.

3. Google Apps (http://www.google.com/apps/intl/en/business/)
We have a sizable systems team, but we want them to focus on managing our various data centers, not setting up calendars. After trying a few open source solutions for calendars and email, we went with Google. We use it for email, calendars and shared documents. The shared documents have been especially useful in collaborating with clients – providing us with a centralized “whiteboard” that multiple parties can view. We are now using Webcams and Google Hangouts to build a more cohesive team feeling.

4. Aretta (http://www.aretta.com) now CBeyond
After using Skype for a while, we went with a more full featured VOIP provider. We tried several VOIP providers multiple times, and Aretta won out each time. They had some minor reliability issues when they migrated data centers a year or so ago (hence searching twice) but they are the best of the inexpensive variety.

5. Workforce Growth (http://www.workforcegrowth.com)
Doing reviews is essential. Tracking all the questions and doing 360s without a tool is not for the feint hearted. WorkForceGrowth is a great tool and improved our review processes, although nothing replaces being a good listener.

6. Asana (http://asana.com/)
For managing multi-team projects with many small tasks and co-ordination, we found JIRA to be too heavy weight. Google documents are too unstructured and don’t prompt action. Asana fits well with client integrations and cross-team project management. A great tool that we’ve recently started using more and more.

7. FollowUpThen (www.followupthen.com)
One of our issues was the “dropped email thread” problem leading to dropped work. If you have an email that you need to ensure you follow-up to completion, adding a cc: to followupthen.com (e.g. 1day@followupthen.com or 2weeks@followupthen.com) will get followupthen to remind you that you did not get a reply from the person whom you sent the email to. This allows you to send-and-forget emails as followupthen will prompt you if you received no reply. No more dropped email threads.

8 RecruiterBox (www.recruiterbox.com)
Managing your recruitment pipeline and job postings is a real problem. Recruiterbox has helped us track candidates as they move through our recruitment pipeline. This ensures we have suitable statistics to measure recruitment performance as well as have a centralized repository for all the information relating to a candidate. Recruiterbox can also push job postings out to our website and other social media (linkedin, facebook.)

By Paul Haefele, Managing Director – Technology

February 27 2012 · , · Filed in: Technology

GROWTH, EXPANSION AND RECORD TRADING VOLUMES FOR DEEP VALUE IN 2011

 

Chicago, IL – Deep Value, developer of high performance trading algorithms, added to its headcount, expanded its offering, strengthened its testing environment and logged record trading volumes in 2011 through its Broker Dealer entity Deep Value Enclave.

Deep Value achieved its single highest trading day in December, processing 1.8 per cent of US-wide stock market trading volume. The company’s second highest trading day was in June with more than 1.3 per cent of US-wide stock market trading volume. Deep Value processed more than a third of a trillion dollars in trades in 2011.

2011 also saw the addition of 16 new full-time employees to its development team in Chennai, India. Deep Value now has one of the largest teams in the world dedicated solely to research and development of algorithmic trading in U.S. markets.

Deep Value introduced 7 new algorithmic strategies in 2011, along with new cluster-based simulation technology that allows the company to innovate, fine-tune and test its algorithms to improve algorithmic performance outside production environments. The process involves tick by tick playback of all market data in a simulated, massively parallelized computing environment that uses 300 machines.

“We are fully committed to best execution,” said Harish Devarajan. “To that end, we invest more than 40,000 hours annually in continuous improvement programs to support specific needs of our clients’ order flows.”

Deep Value has offices in New York, Chicago, Toronto and Chennai.

 

About Deep Value

Deep Value is focused entirely on developing the world’s best trading algorithms. Deep Value is one of only two providers of algorithms to Floor of The New York Stock Exchange. The company’s world-class technology solution and platform is installed both onsite at several client locations as well as at our own datacenters. Clients include the New York Stock Exchange, several prominent hedge funds and a number of other prestigious financial services powerhouses. Deep Value has developed its own sophisticated trading platform on top of industry standard open source components. This system, which is a container-based system is fully distributed, fault-tolerant providing graceful degradation under load and has sophisticated work scheduling frameworks. It is designed with high throughput and low latency as key elements. For more information visit: www.deepvalue.net

February 3 2012 · Filed in: News