Fixnetix’s chip, called iX-eCute, is just the latest evidence that a slowdown of high-frequency trading volume hasn’t weighed on Wall Street’s rush to build ever speedier trading. If anything, the push has accelerated.
via Wall Streets Need For Trading Speed: The Nanosecond Age – MarketBeat – WSJ.
Former Goldman Sachs Group Inc. (GS) banker Hideki Furusho and a University of Tokyo professor have teamed up to create a hedge fund that invests in Nikkei 225 futures based on a computer model that analyzes Japanese blogs.
The Pluga AI Fund, which uses a web-mining model developed by Yutaka Matsuo, an associate professor at University of Tokyo, is aiming to raise 5 billion yen ($61 million) after starting with 30 million yen in August, said Furusho, the founder of Pluga Capital Co., which runs the fund. Pluga plans to target overseas investors starting from June, he said.
via Ex-Goldman Sachs Banker Starts Hedge Fund Analyzing Japanese Blog Traffic – Bloomberg.
In fact, speedy news analysis has been gaining a following among asset managers, according to Rob Passarella, vice president of financial markets for Dow Jones.