Open for Business
7 November 2016
7 November 2016
I started working on Parity, a software platform for financial exchanges, two and half years ago. As I mentioned in an earlier post, my initial motivation was to create an open source trading system with similar technical principles as modern marketplaces, such as Nasdaq.
Quite a bit has happened since then. Parity has gained a few sister projects, and together all the projects have grown to tens of thousands of lines of code. Some other open source projects, such as the Helix market data feed handler library, have added support for Parity as well.
Although the projects cater to a niche audience of quantitative analysts and software engineers working on automated trading algorithms and platforms, they have gradually started building a following on GitHub.
Commercial users—traders and trading venues—have also started to adopt the projects. All this increased interest prompted me four months ago to establish a company and start offering consulting services on Parity and related financial technologies.
So far I have worked mainly with proprietary trading companies that connect to trading venues, such as the Nasdaq stock market or the Bats Hotspot currency exchange, using Parity technologies. I have also been in talks with multiple emerging digital asset exchanges, some of which are utilizing Parity technologies in their core infrastructure.
I’m happy to say that some of the work I have done has been released as open source under the Parity umbrella. The rest has consisted of bespoke software development and more general consultancy on topics such as software architecture, performance tuning, and the Financial Information Exchange (FIX) protocol.
The business has improved the sustainability of the open source development, and close collaboration with consulting clients has helped focus efforts based on market demand. In the future, I also see a possibility of creating commercial products that complement and refine the Parity technologies.