HFT Technologies LLC announced the launch of a new company, HFT Pros, to provide on-site consultingand staff supplementation services to financial firms throughout Chicago, New York City and other major financial centers.
Demand for IT consultants with trading systems experience is expected to rise sharply, according to executives at HFT Technologies. Dodd-Frank and new EU regulations on high-frequency trading will require substantial revisions in software systems, reporting and documentation.
“For the past two years, we have been building the technology – a new, sub-4 microseconds CME FIX Gateway and CME Price Feed Handler. We expanded our CME co-locating services by adding full hosting capabilities at the CME Aurora Data Center,” said CEO Tony Verga. “With HFT Pros, we can now send teams of consultants to help our clients implement the faster, more efficient systems in time to meet regulatory deadlines.”
With Dodd-Frank compliance deadlines – and the likelihood of additional federal regulations aimed at high-frequency trading – it’s imperative that firms complete current IT projects, streamline maintenance procedures and have documentation in place ahead of time.
“For financial firms, 2013 will be Y2K all over again,” said Verga. “Wrapping up IT projects now will be critical to having capacity to implement the new rules later in the year.”