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Using Java In Low Latency Environments
twofishy writes "Something I've noticed amongst financial service companies in London is a growing use of Java in preference to C/C++ for exchange systems, High Frequency Trading and over low-latency work. InfoQ has a good written panel discussion with Peter Lawrey, Martin Thompson, Todd L. Montgomery and Andy Piper. From the article: 'Often the faster an algorithm can be put into the market, the more advantage it has. Many algorithms have a shelf life and quicker time to market is key in taking advantage of that. With the community around Java and the options available, it can definitely be a competitive advantage, as opposed to C or C++ where the options may not be as broad for the use case. Sometimes, though, pure low latency can rule out other concerns. I think currently, the difference in performance between Java and C++ is so close that it's not a black and white decision based solely on speed. Improvements in GC techniques, JIT optimizations, and managed runtimes have made traditional Java weaknesses with respect to performance into some very compelling strengths that are not easy to ignore.'"
Traders are typically working with monster servers outfitted with over a hundred gigabytes of RAM, not tiny desktop workstations that need to swap just to move the mouse. I won't say that memory usage is no object, but there is almost no reason not to throw extra memory at a process if it wants it.
Your trading engine runs in Java and leaks four gigabytes an hour? No problem. Just give it 64G of stack and do half an hour of garbage collection after the market closes. Is that not enough? Okay, give it more. Don't have that much available? Get more. Can't afford it? Now you're just pulling my leg. Buying extra memory is cheaper than debugging a live system where any slip-up could cost you thousands of dollars in missed trades or penalties.
It's a weird world, but somehow it works that way.
"Wouldn't a C++ programmer generate an applicable program effectively as quickly as a Java programmer?"
No, some languages simply are slower to develop with and debug. The problem is also made worse depending on the frameworks and IDEs available. As an example, you're going to get your work done way quicker writing an application manipulating dates and times using C# and Visual Studio than you are Java and Eclipse because until Java 8 Java's date time functionality is shit and Eclipse is a dog slow IDE. With Java 8 and say NetBeans or JDeveloper though things will be pretty similar.
At the end of the day with C/C++ you have to deal with memory management and that's just one additional piece of work that you don't have to be so concerned with with Java. C/C++ give you more scope for optimisation and more control over memory management as a benefit of that though. It's about trade-offs and figuring out what matters.
But it's possible to be great at both C++ and Java without having to descend into petty arguments as to which is better and know when to use each in response to a specific task, and that's the sort of great programmer these institutions will be looking for and this is really what they're talking about - both have their place but in some cases getting a trading application to market a day earlier than the competition even at slight latency trade-off may be enough to net your company a few million dollars advantage. In other cases, the latency improvements of a highly optimised C++ application may instead be the key to scooping up those extra millions.
Uh since around 1.3 the JIT optimization for java has led to blindly fast code containing optimizations which are not even available to C++ . Dynamic compiling allows for branch prediction to be more accurately, unlike malloc, the GC knows where to look for free memory and returns it from the last bit of memory you just requested, if you know where pointers are pointing at compile time, you can put them in registers. C++ and other statically compile languages don't have this information, so it stores them in cache, but the JIT can acquire this information and store it in a register. It's the difference between a register to register test and reading from disk.
There are tons of other stuff like this. I don't have it committed to memory, and compiler technology is not my thing but if you look around you'll see that actually GC and JIT are theoretical advantages in terms of speed and those advantages are being realized. It can even figure out what chip it's being run on at runtime and optimize the code for that chip.
The Java is Slow Meme is left over from 1995 before there was even HotSpot.
Not bashing any other language here. C# could also avail itself of these advantages.
Garbage collection creates a different class of problems, namely that the performance characteristics of your program become non-deterministic. This is a Big Deal for certain classes of applications such as video games and in particular HFT. Would you like to be the person explaining why the GC caused your program to stall at an inopportune time for 50ms and lost somebody a few million bucks?
It's hardly a weird world.
Water leaks into basements. Many times, the solution is to use a sumppump to pump the water out rather than a very costly rebuilding of the house and surrounding terrain.
I've bought many products in my life (just recently a car tire pump) that tells you not to run it for more than 15 minutes. It might over heat.
Many people have cars that start leaking oil as they age. They don't spend the money to fix it as long as they can just add enough oil to keep it going.
And who hasn't used duct-tape to seal leaks?
It's hardly a weird world out there.