I did a review of FOSS software with a specific view towards use in trading environments etc. a while back as one of the features in Hedge Fund Technology magazine. Whilst there were a few projects out there, our fundamental conclusion (which in hindsight makes great sense) was this:
Fundamentally FOSS and financial trading software are incompatible concepts. IE if you develop any software product of tangible use and value then it does not make sense for the author to leave it as a free product - when you can be making money out of it (and generally substantial amounts).
This was the pattern we saw. Many developers had started projects with good intentions, and as training exercises for themselves etc. but then after that they usually branched off to create a commercial product, or were hired by a financial institution which usually includes confidentiality in the contract.
Projects like EclipseTrader are a progression, but are quite a way behind the edge in terms of functionality - they are recreating tools which were commercial products some ten years ago - which is not to say it is not a useful tool, which it is.
It is the same reason that market data (share prices etc) is generally quite expensive in real time, but often free after 15 minutes. It is a bit like knowing who is the winner of a horse race - 5 minutes makes a big difference to the value of the information! For academic purposes, exchanges like Euronext (LIFFE) will provide tic level data all the way back if you ask nicely.
If you invented a trading system which could be shown to help generate a good income & profits - would you give it away for free?
If you're seriously up for going over, please do get in touch, as we could use some feet on the ground.
We should be able to equip you with a with a satelite phone and GPS, and arrange military transport, but you'd have to by willing to accept the risk of what is still an extremely volatile and damagerous environment.
Thanks to everyone for there support for the CITRI project.
Given the massive number of postings of comments and replies, I feel I should set a few things straight.
1) CITRI is a non profit organisation - and by that we mean charitable - there will be no 'skimming' or 'fat salaries' taken out of raised funds. We intend that as much of the money raised as possible should go towards the implementation of information infrastructure in Iraq. We are asking people and companies to support us with their own resources, as has been done by Onega & others so far. If there is any payback, it is in the knowledge that we are working for the good of humanity. If and when we need to hire full time staff on the ground (In Iraq), they will be paid a reasonable local salary. Onega has stated publically that they will not take a penny / dime from the project, and accounting will be completely open book.
2) Some people have questioned our calculations and projections of revenue. They are based upon financial models, but one key thing to bear in mind is that traditionally registrars have charged a flat fee for each domain. So that when initially registered, sports.com is charged the same as asdrgneofrnvg.com, although the former is considered more desirable. Vast sums of money have passed hands on domains after initial registration - we believe that by conducting an open auction at the point of initial registration, this premium goes where it should - into CITRI projects. Whether the amount raised is higher or lower than target, it would all make a difference.
3) We completely agree with all the comments about food coming first. This is what the Red Cross / US / UK / UN are doing right now, and will continue to do. CITRI is a longer term plan to help the development of the country through the use of IT.
4) Registrations & the auction process are not open yet (and are not guaranteed ever at this early point)- we are currently talking to IANA / the current controller of the dead.IQ domain about redelegation. This process can take a number of months, and may not be to ourselves (Uncle Sam may already have a plan - if it is better than ours, then we would back this). We have so far received a great deal of goodwill, and thank everyone for it, but we can not take pre registrations / bids at this time.
5) CITRI is all about partners. We have big partners, from IT firms and others, who will help with the hosting, infrastructure, the domain auction etc. If you have any time or resources to offer, and are willing to do it for the PR alone / absolute cost (remember funds to the projects), please do send us an email, or get in touch. We are particularly keen in making contact with technically literate Iraqi's who intend to head back soon.
Our sincere thanks to everyone for their support and comments.
Slashdot Mirror
Fundamentally FOSS and financial trading software are incompatible concepts. IE if you develop any software product of tangible use and value then it does not make sense for the author to leave it as a free product - when you can be making money out of it (and generally substantial amounts).
This was the pattern we saw. Many developers had started projects with good intentions, and as training exercises for themselves etc. but then after that they usually branched off to create a commercial product, or were hired by a financial institution which usually includes confidentiality in the contract.
Projects like EclipseTrader are a progression, but are quite a way behind the edge in terms of functionality - they are recreating tools which were commercial products some ten years ago - which is not to say it is not a useful tool, which it is.
It is the same reason that market data (share prices etc) is generally quite expensive in real time, but often free after 15 minutes. It is a bit like knowing who is the winner of a horse race - 5 minutes makes a big difference to the value of the information! For academic purposes, exchanges like Euronext (LIFFE) will provide tic level data all the way back if you ask nicely.
If you invented a trading system which could be shown to help generate a good income & profits - would you give it away for free?
- if you do please send me a copy!
Ben
If you're seriously up for going over, please do get in touch, as we could use some feet on the ground.
We should be able to equip you with a with a satelite phone and GPS, and arrange military transport, but you'd have to by willing to accept the risk of what is still an extremely volatile and damagerous environment.
Many thanks for your support.
Ben
Thanks to everyone for there support for the CITRI project.
.IQ domain about redelegation. This process can take a number of months, and may not be to ourselves (Uncle Sam may already have a plan - if it is better than ours, then we would back this). We have so far received a great deal of goodwill, and thank everyone for it, but we can not take pre registrations / bids at this time.
Given the massive number of postings of comments and replies, I feel I should set a few things straight.
1) CITRI is a non profit organisation - and by that we mean charitable - there will be no 'skimming' or 'fat salaries' taken out of raised funds. We intend that as much of the money raised as possible should go towards the implementation of information infrastructure in Iraq. We are asking people and companies to support us with their own resources, as has been done by Onega & others so far. If there is any payback, it is in the knowledge that we are working for the good of humanity. If and when we need to hire full time staff on the ground (In Iraq), they will be paid a reasonable local salary. Onega has stated publically that they will not take a penny / dime from the project, and accounting will be completely open book.
2) Some people have questioned our calculations and projections of revenue. They are based upon financial models, but one key thing to bear in mind is that traditionally registrars have charged a flat fee for each domain. So that when initially registered, sports.com is charged the same as asdrgneofrnvg.com, although the former is considered more desirable. Vast sums of money have passed hands on domains after initial registration - we believe that by conducting an open auction at the point of initial registration, this premium goes where it should - into CITRI projects. Whether the amount raised is higher or lower than target, it would all make a difference.
3) We completely agree with all the comments about food coming first. This is what the Red Cross / US / UK / UN are doing right now, and will continue to do. CITRI is a longer term plan to help the development of the country through the use of IT.
4) Registrations & the auction process are not open yet (and are not guaranteed ever at this early point)- we are currently talking to IANA / the current controller of the dead
5) CITRI is all about partners. We have big partners, from IT firms and others, who will help with the hosting, infrastructure, the domain auction etc. If you have any time or resources to offer, and are willing to do it for the PR alone / absolute cost (remember funds to the projects), please do send us an email, or get in touch. We are particularly keen in making contact with technically literate Iraqi's who intend to head back soon.
Our sincere thanks to everyone for their support and comments.
Ben