With 2013 upon us, one of the stories to watch this year is the implementation of a section of Dodd-Frank rules that are slated to go into effect. Although the new regulation is imminent, many financial companies are still struggling with understanding clearly the scope of the new laws as well as effort involved to fully comply. Catering to this need, technology consultant to the financial trading industry, HFT Technologies has announced the launch of HFT Pros. HFT Pros is a new company that will provide compliance and IT consulting to meet Dodd-Frank driven demand. HFT CEO Tony Verga explained the worries that are hitting companies due to Dodd-Frank, “For financial firms, 2013 will be Y2K all over again. Wrapping up IT projects now will be critical to having capacity to implement the new rules later in the year.”
HFT Technologies LLC Opens New Consulting Company to Help IT Departments Prepare for Dodd-Frank and 2013 Regulatory Deadlines
New HFT Pros from HFT Technologies provides on-site IT and compliance specialists with trading systems and financial industry experience.
Chicago IL (PRWEB) January 23, 2013
HFT Technologies LLC announced the launch of a new company, HFT Pros, to provide on-site consultingand staff supplementation services to financial firms throughout Chicago, New York City and other major financial centers. Demand for IT consultants with trading systems experience is expected to rise sharply, according to executives at HFT Technologies. Dodd-Frank and new EU regulations on high-frequency trading will require substantial revisions in software systems, reporting and documentation.
“For the past two years, we have been building the technology – a new, sub-4 microseconds CME FIX Gateway and CME Price Feed Handler. We expanded our CME co-locating services by adding full hosting capabilities at the CME Aurora Data Center,” said CEO Tony Verga. “With HFT Pros, we can now send teams of consultants to help our clients implement the faster, more efficient systems in time to meet regulatory deadlines.”
With Dodd-Frank compliance deadlines – and the likelihood of additional federal regulations aimed at high-frequency trading – it’s imperative that firms complete current IT projects, streamline maintenance procedures and have documentation in place ahead of time.
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“For financial firms, 2013 will be Y2K all over again,” said Verga. “Wrapping up IT projects now will be critical to having capacity to implement the new rules later in the year.”
In highest demand are financial programmers, network engineers, project managers, co-location implementation specialists and market data experts. All HFT Pros consultants have a minimum of 5 years of experience with trading software and financial infrastructure.
Project managers are needed most urgently. Their documentation skills will prove invaluable, as even more regulations are likely to come from SEC, CFTC and many European agencies throughout next year.
Further information is at http://www.hftpros.com
About HFT Pros
HFT Pros provides on-site consulting and staff supplementation services for algorithmic trading firms, clearing firms, hedge funds, private funds and banks. All consultants have financial industry experience and are backed by HFT Technologies’ founding partners, leaders in the development of connectivity solutions for the high-speed trading industry for more than 15 years.
About HFT Technologies
A leading provider of consulting, networking and technology solutions, HFT Technologies LLC specializes in infrastructure and application development specific to algorithmic trading and market making. Additional services include global co-hosting, 24/7 server maintenance and monitoring, and custom programming LAN/WAN design, proximity co-location, and algorithmic trading application design and engineering.