IT for Fund Managers, Traders & other Financial Organisations
The 5 Most Important Factors to Consider When
Setting Up the IT Systems to Support a New Trading Fund
- Essential Guidance to Get It Right First Time, and Deliver a Fast,
Efficient and 100% Reliable Trading Environment
Or are you an established organisation that needs to get significantly more from your budget or help with a specific issue? ..find out how we can help you here
- Build in network resilience from the start.
Today’s markets are volatile. An IT problem that prevents you from trading - even for a few minutes – can cost many thousands in lost or delayed trades.
Not only are you protected from the start, but it is almost always more cost (and time) effective long-term to build in resilience at the beginning rather than trying to shoe-horn it into your network later in the wake of a trading disaster.
Though initially your IT budget may not run to the fully failsafe system you would like, designing your IT network from the start with resilience in mind means that you can easily build it in as your organisation and budget increases over time.
- Don’t rely on a single source of financial data.
If your successful trading relies on pricing data that is accurate to the minute (or even second), then don’t rely completely on a single source for your pricing feeds. Make sure that you have some form of backup data feed available, and ideally put systems in place to compare the feeds to make sure that there are no glitches or delays.
- Make sure your IT network is built with compliance in mind from
Compliance – whether for FSA, SCC or which ever regulatory bodies govern the trading areas you work with – generally places a huge burden on an IT network.
Make sure that you understand for how long emails need to be kept, whether calls need to be recorded and how long they need to be stored. And if you don’t know, bring in an expert that does – failure to produce the relevant records during an audit can lead to thousands in fines and severe loss of credibility with your investors.
You will not only need systems in place to make sure that all necessary data is captured and kept secure where it can’t be deleted, but your IT network is going to need huge amounts of storage to keep all that data – even if you only receive a few emails a day, the years of emails that need to be kept to satisfy the key regulatory bodies mount up quickly into huge amounts of data requiring large, well designed and managed storage systems.
- Don’t just assume that a more expensive system is a better one.
If you are not an IT expert, then you may well not be aware of the actual cost of IT elements like servers, switches and routers. Before you buy, ask questions – make sure you understand exactly what you are getting for your money and ideally get quotes for the same equipment from different sources.
Don’t just assume that a server is better if it costs you £20K rather than £4K – it isn’t unknown for unscrupulous IT providers to mark up hardware and software by huge percentages – and for unsuspecting fund managers to pay mark-ups of several hundred percent because they honestly thought that more cost automatically equated to a better item.
If in doubt, use the services of an experienced IT consultant to check that you are buying the right equipment at the right price – the thousands they can save you can then be utilised in other ways – perhaps to give you the additional IT resilience you were not sure you could afford at the start, or to allow investment in other areas of your growing business.
- Work with IT consultants that understand your whole business –
not just one aspect like networking, PC support or their own proprietary
It doesn’t mean that you won’t use dedicated specialists on occasions – not only may you have to (for specialist trading software for example) but it will often be more cost effective to do so.
But remember that these specialists generally only work in a narrow field so probably won’t be aware of how their core specialties (and favourite technologies) can impact on other areas of your computer network. For example, your trading system may require a completely different version of Office to run or might need to be installed on a different server platform to other key applications.
The specialist for that trading system probably won’t be aware how a “tweak” to make it work most effectively may cause problems in other areas of your computer network – they can’t be a specialist in everything.
If you are not an IT specialist yourself, you probably won’t know what questions to ask and where problems are likely to occur – but a specialist financial IT consultant will have years of experience of how the elements of financial IT fit together. They will know the key questions to ask, will understand what can go wrong if things are not changed or added carefully, and will know how to integrate all those specialist IT areas into an effective working solution.
Their years of financial IT experience can save you hours or days of downtime – and thousands (or even millions) in lost trading time or unexpected costs to get your network back up and running.
The Benefits of Experience
We have been working with fund managers and other trading organisations since 1998.
We have worked with a wide range of financial organisations, including hedge funds, bond traders and other funds and financial organisations of all types and sizes.
We understand the problems and the "balancing acts" that are often required to keep your organisation running reliably, resiliently and efficiently while still keeping expenditure under control and your financial data secure.
We recognise that your network uptime is critical and security is essential.
We are experienced with the specialised technologies you need to ensure you get the information you need fast. We understand the integration required to bring specialist financial data sources such as Reuters, Bloomberg, Autex and Insternet into your in-house network and know how to get them working for you.
When it comes to compliance we know precisely what needs to be done to keep you (and your software and data) on the right side of the FSA and SCC.
We understand that you don't always work 9 to 5:30 and that your network can't be always downed instantly just because a server upgrade requires a re-boot.
Contact us now to arrange a free 20 minute telephone consultation with one of our technical specialists.
Our consultant (who we guarantee will be a real technical specialist with years experience in financial IT, not a glorified sales person!) will find out about you about your business and what you need to get done.
We will ask questions about the types of trading you do, what countries you deal with, where you are now and what plans you have for the future -
- and then we will give you honest advice as to the IT solutions we feel are going to work best for both your situation and budget – not just for today but for the future.
There is no obligation whatsoever - and our technical specialist will be totally honest about what we can do for you – and what we can’t.
There is no point wasting your time (or ours!) if we are not the right people to help!
Do you have tricky problems that need solving, or are you planning large-scale changes to your systems?
Our consultants have many years’ experience in creating and maintaining efficient and cost effective computer systems. We use our years of experience to develop practical, workable information systems that really do what they’re designed to do. But we are also very experienced in trouble-shooting and solving specific "one-off" problems that can occur at any time in any IT network.
We are equally adept at helping start up funds to get working fast, existing organisations make the most of their budgets, solving tricky problems or planning large-scale changes.
You can find out more about how we work here.
Just give us a call to discuss what you need - and we will find the solution that fits both your needs and your budget best.
For examples of how we’ve helped other organisations, please review our growing section of case studies.
Further areas of consultancy include:
- Network Health Checks
- Installations and Upgrades
- Telephone Support and Regular Support Contracts
- Hardware Maintenance
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TigerRidge Consultancy Services Ltd. All rights reserved.