The new Floor Close route can help trading desks reduce overnight risk moments before the close, and target the closing print better than ever before.
NEW YORK, 26th September 2016 — Deep Value is pleased to announce the Floor Close, a new direct market access route to the NYSE that allows desks to participate in the NYSE closing auction closer to the bell than ever before.
The NYSE closing auction is typically the single biggest liquidity event of the day across stock markets worldwide. For virtually every US cash trading desk across the world, Deep Value’s new Floor Close product may open up new trading opportunities and new avenues to shed risk.
Created via partnerships with Floor Brokers, Deep Value’s Floor Close is a genuine technology advance in the state of the art, and is fully compliant with applicable rules and regulations.
Via this technology breakthrough:
● Desks can reduce overnight risks in many hundreds of names moments before the bell
● Respond faster to closing imbalance feed updates, while being compliant
● Avoid the tracking error of “Target Close” algorithmic trading strategies strategies that target the price of the eventual closing print and instead simply participate directly in the close
● Buyside desks can have larger position limits and gross books sizes near the market close
Limitations and disclaimers apply, driven by market quality, compliance and other considerations.
Deep Value, a developer of high performance trading algorithms, traded 605B USD in the aggregate in 2014, and hit a daily high of over 400m shares, or 4.4% per cent of that day’s total US-wide stock market trading volume on June 27th.
“It is a priviledge to have the customer trust to trade such volumes,” said Harish Devarajan, CEO. “Firms trading at our scale distinguish themselves on stability, performance and service, and we are glad to see our investments and focus bringing value to customers.”
Deep Value continues to invest in building out its research and technology capabilities. The firm focuses heavily on empowering its researchers and technologists by providing easy-to-use development environments, accurate market models and tools to try out quantitative innovations, and manage outputs from bid data calculations. A key to its success have been its big data simulation infrastructure, which leverages Hadoop to run massive simulations that make it possible for the company to create fine-grained improvements to production performance.
Deep Value has offices in Boston, New York and Chennai.
About Deep Value
Deep Value is focused on developing the world’s best trading algorithms. The firm contributes between one to two percent of overall equity trading volume to US stock markets daily, and represented 4.4% per cent of overall US stock market volume in its 2014 daily high. The company’s world-class technology solution and platform is installed on-site at client locations as well as at co-located datacenters. Clients include prominent hedge funds and other prestigious financial services powerhouses. Deep Value is the dominant Exchange-sponsored provider of algorithms to all brokers on the Floor of the NYSE. Deep Value has developed its own distributed, fault-tolerant trading platform on top of industry standard open source components. This trading platform can also be run in a cluster based simulation framework allowing Deep Value’s research organization to bring to bear large clusters of machines to run sophisticated analysis aimed at improving performance. For more information visit: www.deepvalue.net
-Deep Value Processes 5.26 per cent of the US-wide Stock Market Trading Volume-
CHICAGO, ILLINOIS — (Marketwired) — 02/26/14 — Deep Value, developer of high performance trading algorithms, reached a new milestone executing 481,401,795 shares or 5.26 per cent of total US-wide stock market trading volume on September 20, 2013.
Since it began publicly reporting its annual performance, Deep Value has seen substantial year-over-year growth. In December 2011, Deep Value achieved its single highest trading day, processing 1.8 per cent of US-wide stock market trading volume, up from a previous high of 1.3 per cent in June of the same year. In September of 2012, the company hit a new high-water mark, processing 3.7 per cent of US-wide volumes or more than 300 million shares.
“We hold ourselves to a high standard,” said Harish Devarajan, CEO of Deep Value. “Our rapid year-over-year growth is evidence that we are continuing to deliver superior performance levels.”
Deep Value trading volumes in 2011 totaled 10.3 billion shares valued at 265 billion dollars, compared to 12.6 billion shares in 2012, representing 400 billion dollars. The company topped 15.8 billion shares traded during 2013, representing in excess of 568 billion dollars.
Deep Value continues to invest in building out its research and technology capabilities. The firm focuses heavily on empowering its researchers and technologists by providing easy-to-use development environments, accurate market models and tools to manage and understand outputs from large calculations. A key to its success is its simulation infrastructure, which leverages Hadoop to run massive simulations that make it possible for the company to create fine-grained production improvements.
Deep Value has offices in Chicago, Toronto, New York, London, Bangalore and Chennai.
About Deep Value
Deep Value is focused on developing the world’s best trading algorithms. The firm contributes between one to two percent of overall equity trading volume to US stock markets daily, and represented 5.3 per cent of overall US stock market volume in its 2013 daily high. The company’s world-class technology solution and platform is installed on-site at client locations as well as at co-located datacenters. Clients include prominent hedge funds and other prestigious financial services powerhouses. Deep Value is the dominant Exchange-sponsored provider of algorithms to all brokers on the Floor of the NYSE. Deep Value has developed its own distributed, fault-tolerant trading platform on top of industry standard open source components. This trading platform can also be run in a cluster based simulation framework allowing Deep Value’s research organization to bring to bear large clusters of machines to run sophisticated analysis aimed at improving performance. For more information visit: www.deepvalue.net
In this discussion with Alex Tabb of the Tabb Group, Paul Haefele, Deep Value’s Managing Director of Technology, talks about how Deep Value harnesses big data technologies to optimize its high performance algorithms. He discusses how Deep Value integrated Hadoop with their fault-tolerant, low latency execution engine to empower their research department be able to easily test out new ideas, see if they work in simulation, and then straightforwardly move them to production.
Chicago, IL, March 4 – Deep Value, developer of high performance trading algorithms, posted record trading volumes in 2012 through its Broker Dealer entity Deep Value Enclave. The company also significantly increased its development and deployment of big data technology in 2012.
Deep Value achieved its single highest trading day in September 2012, processing 3.7 per cent of US-wide stock market trading volume, doubling its 2011 high of 1.8 per cent. The September high had over 300 million shares and over 12 billion US dollars traded in a single day. Trading 400 billion dollars in 2012, the firm contributed between one-half to 1 per cent of overall daily US stock market volume virtually every day.
“Our company-wide commitment to best execution is enabling us to capture increasingly larger shares of trading volumes in the US,” said Harish Devarajan, CEO of Deep Value. “Our success lies in maintaining one of the largest teams in the world dedicated solely to research and development of algorithmic trading in U.S. markets, supported by an equally ambitious big data strategy.”
The company’s big data strategy further matured in 2012, augmenting an Amazon EC2 outsourced solution with an in-house cluster comprised of 1,600 cores. Deep Value continued to invest in building out its custom simulation environment, which leverages Hadoop to run massive simulations that make it possible for the company to create fine-grained production improvements. The environment focuses heavily on empowering researchers by providing an easy-to-use development environment, accurate market models and tools to manage and understand outputs from large calculations.
“We looked to big data technologies to be able to answer what-if questions on the large data sets we deal with. Applying big data solutions on large data sets creates new big data challenges in how to manage and extract meaning from those outputs. In current work, we are using other software systems from the big data open source ecosystem to analyze automated output data and present what we believe will be insightful summaries,” said Paul Haefele, Managing Director, Technology for Deep Value.
Deep Value has offices in Chicago, Toronto, New York, London, Bangalore and Chennai.
About Deep Value
Deep Value is focused entirely on developing the world’s best trading algorithms. The firm contributes between one half to 1 per cent of overall equity trading volume to US stock markets daily, and represented 3.7 per cent of overall US stock market volume in its 2012 daily high. The company’s world-class technology solution and platform is installed on-site at client locations as well as at co-located datacenters. Clients include prominent hedge funds and other prestigious financial services powerhouses. In addition, Deep Value is the dominant Exchange-sponsored provider of algorithms to all brokers on the Floor of the NYSE. Deep Value has developed its own distributed, fault-tolerant trading platform on top of industry standard open source components. This trading platform can also be run in a cluster based simulation framework allowing Deep Value’s research organization to bring to bear very large clusters of machines to run sophisticated analysis aimed at improving performance. For more information visit: www.deepvalue.net
Facing a similar big data issue, Deep Value, a developer of algorithms, backtests its algorithms “on a multitude of orders across many months of historic data,” says CEO Harish Devarajan. To gain an edge, it also must simulate how the algos would have worked across hundreds of days of trading. The next phase is to ask “what if” questions of the data from hundreds of machines, which actually creates a new problem–“storing an ocean of data,” Devarajan says.
Are Wall Street Firms Looking to Third-Party Data Centers To Take Advantage of Efficient Cloud Computing? – Wall Street and Tech Article
Two and a half years ago, Deep Value, a Chicago-based provider of algorithms to buy- and sell-side firms that also has a broker-dealer affiliate, began using big data analytics to improve executions. Despite the depressed environment in U.S. cash equities, CEO Harish Devarajan says, the firm’s business has grown well — it executed nearly 3 percent of overall market volume on its highest-volume day this summer.
Taken together, the perception is the industry is losing control. “The complexity of some systems overcomes the best efforts of designers to keep them under control,” says Harish Devarajan, chief executive of Deep Value, a developer of trading algorithms used at the New York Stock Exchange and elsewhere. “All systems start off as things that do our bidding. But some rise in complexity to the point where we masters become the servants of the system.”
Cover Story: Last Vestige for Small Caps – Traders Magazine
Harish Devarajan, CEO of algorithmic firm Deep Value, said Reg NMS and the fragmentation it created had already delivered a huge blow to upstairs block desks before the financial crisis happened, and the thinning out of the Street after the crisis continued to push the buyside toward algos. It was those factors as much as improvements in algorithms that led to algos’ increased share in small-cap trades.
