[go: up one dir, main page]
More Web Proxy on the site http://driver.im/ skip to main content
10.1145/3419394.3423620acmconferencesArticle/Chapter ViewAbstractPublication PagesimcConference Proceedingsconference-collections
research-article

A Bird's Eye View of the World's Fastest Networks

Published: 27 October 2020 Publication History

Abstract

Low latency is of interest for a variety of applications. The most stringent latency requirements arise in financial trading, where sub-microsecond differences matter. As a result, firms in the financial technology sector are pushing networking technology to its limits, giving a peek into the future of consumer-grade terrestrial microwave networks. Here, we explore the world's most competitive network design race, which has played out over the past decade on the Chicago-New Jersey trading corridor. We systematically reconstruct licensed financial trading networks from publicly available information, and examine their latency, path redundancy, wireless link lengths, and operating frequencies.

Supplementary Material

MP4 File (imc2020-47-long.mp4)
Presentation video.
MP4 File (imc2020-47-short.mp4)
Presentation video.

References

[1]
Astrome. 2020. Gigamesh. https://astrome.net/.
[2]
Aviat Networks. 2018. The Role of Microwave in Rural Broadband. https://aviatnetworks.com/blog/the-role-of-microwave-in-rural-broadband/.
[3]
Nick Baker. 2019. Tower Battle Beside World's Biggest Exchange Ends in Settlement. https://tinyurl.com/y7nocdqk.
[4]
Nick Baker and Bryan Gruley. 2019. The Gazillion-Dollar Standoff Over Two High-Frequency Trading Towers. https://tinyurl.com/yx8v9lln.
[5]
Nick Baker and Kevin Miller. 2019. High-Frequency Trading Fight Escalates as New Tower Blooms Next to CyrusOne's. https://tinyurl.com/yc7mgjso.
[6]
David Barboza. 2000. Iridium, Bankrupt, Is Planning a Fiery Ending for Its 88 Satellites. https://tinyurl.com/y924ycs8.
[7]
Debopam Bhattacherjee, Waqar Aqeel, Ilker Nadi Bozkurt, Anthony Aguirre, Balakrishnan Chandrasekaran, P. Godfrey, Gregory Laughlin, Bruce Maggs, and Ankit Singla. 2018. Gearing up for the 21st century space race. In ACM HotNets.
[8]
Debopam Bhattacherjee, Sangeetha Abdu Jyothi, Ilker Nadi Bozkurt, Muhammad Tirmazi, Waqar Aqeel, Anthony Aguirre, Balakrishnan Chandrasekaran, P. Godfrey, Gregory P. Laughlin, Bruce M. Maggs, et al. 2018. cISP: A Speed-of-Light Internet Service Provider. arXiv preprint arXiv:1809.10897 (2018).
[9]
Jonathan Brogaard, Terrence Hendershott, and Ryan Riordan. 2014. High-Frequency Trading and Price Discovery. The Review of Financial Studies (2014).
[10]
Jake Brutlag. 2009. Speed matters for Google web search. https://tinyurl.com/olo7sbm.
[11]
Allen Carrion. 2013. Very fast money: High-frequency trading on the NASDAQ. Journal of Financial Markets (2013).
[12]
CME Group. 2020. CME Co-Location and Data Center Services. https://www.cmegroup.com/trading/colocation/co-location-services.html.
[13]
AT&T Corporation. 2003. AT&T Long Lines Routes March 1960. http://long-lines.net/places-routes/maps/MW6003.html.
[14]
Debopam Bhattacherjee. 2020. https://github.com/debopambhattacherjee/HFTNetView.
[15]
Yoav Einav. 2019. Amazon Found Every 100ms of Latency Cost them 1% in Sales. https://tinyurl.com/ybdmog37.
[16]
Ericsson. 2020. Microwave backhaul for the evolution to 5G. https://www.ericsson.com/en/networks/trending/hot-topics/microwave-backhaul.
[17]
Ericsson. 2020. Mobile transport solutions to connect 5G services, everywhere. https://www.ericsson.com/en/networks/offerings/transport.
[18]
FCC Universal Licensing System. 2020. Microwave Industrial/Business Pool License - WRFF778 - Jefferson Microwave, LLC. https://tinyurl.com/yd3429cl.
[19]
FCC Universal Licensing System. 2020. Microwave Industrial/Business Pool License - WRFQ927 - Pierce Broadband, LLC. https://tinyurl.com/yanfwben.
[20]
Federal Communications Commission. 2020. https://www.fcc.gov/.
[21]
Federal Communications Commission. 2020. Basic Search. https://data.fcc.gov/api/license-view/basicSearch/getLicenses.
[22]
Federal Communications Commission. 2020. Geographic Search. https://wireless2.fcc.gov/UlsApp/UlsSearch/searchGeographic.jsp.
[23]
Federal Communications Commission. 2020. License Search. https://wireless2.fcc.gov/UlsApp/UlsSearch/searchLicense.jsp.
[24]
Federal Communications Commission. 2020. Site License Search. https://wireless2.fcc.gov/UlsApp/UlsSearch/searchSite.jsp.
[25]
Federal Communications Commission. 2020. Universal Licensing System. https://www.fcc.gov/wireless/systems-utilities/universal-licensing-system.
[26]
Google AR & VR. 2020. Do more with what you see. https://arvr.google.com/.
[27]
Nikola Gvozdiev, Stefano Vissicchio, Brad Karp, and Mark Handley. 2018. On low-latency-capable topologies, and their impact on the design of intra-domain routing. In ACM SIGCOMM.88--102.
[28]
Joel Hasbrouck and Gideon Saar. 2013. Low-latency trading. Journal of Financial Markets 16, 4 (2013), 646--679.
[29]
Huawei. 2020. Microwave: A Cost-Effective Solution for Network Construction in Rural Areas and Islands. https://tinyurl.com/ya7z79ol.
[30]
ITU. 2020. Evolution of Fixed Services for wireless backhaul of IMT 2020 / 5G. https://tinyurl.com/ybuups22.
[31]
Kuiper USASAT-NGSO-8A ITU filing. 2018. https://www.itu.int/ITU-R/space/asreceived/Publication/DisplayPublication/8716.
[32]
Kuiper USASAT-NGSO-8B ITU filing. 2018. https://www.itu.int/ITU-R/space/asreceived/Publication/DisplayPublication/8774.
[33]
Kuiper USASAT-NGSO-8C ITU filing. 2018. https://www.itu.int/ITU-R/space/asreceived/Publication/DisplayPublication/8718.
[34]
Gregory Laughlin, Anthony Aguirre, and Joseph Grundfest. 2014. Information transmission between financial markets in Chicago and New York. Financial Review 49, 2 (2014), 283--312.
[35]
Michael J. McGowan. 2010. The rise of computerized high frequency trading: use and controversy. Duke L. & Tech. Rev. (2010).
[36]
Nasdaq. 2020. https://www.nasdaq.com/.
[37]
New Line Networks. 2020. http://www.newlinenet.com/.
[38]
NY4: New York IBX Data Center. 2020. https://tinyurl.com/ybe9d5pg.
[39]
NYSE. 2020. https://www.nyse.com/index.
[40]
P Series. 2012. Characteristics of precipitation for propagation modelling. Recommendation ITU-R (2012), 837--6.
[41]
RPSeries. 2012. Propagation data and prediction methods required for the design of terrestrial line-of-sight systems. Recommendation ITU-R (2012), 530--11.
[42]
Gary W. Shorter and Rena S. Miller. 2014. High-frequency trading: background, concerns, and regulatory developments. Vol. 29. Congressional Research Service Washington, DC.
[43]
Ankit Singla, Balakrishnan Chandrasekaran, P. Brighten Godfrey, and Bruce Maggs. 2014. The Internet at the speed of light. In ACM HotNets.1--7.
[44]
SpaceX Starlink. 2017. https://www.spacex.com/webcast.
[45]
Shelby Thomas, Geoffrey M. Voelker, and George Porter. 2018. Cachecloud: Towards speed-of-light datacenter communication. In USENIX HotCloud.
[46]
TRAI. 2005. Recommendations on Growth of Telecom services in rural India. https://trai.gov.in/sites/default/files/recom3oct05.pdf.
[47]
Maxime Véron, Olivier Marin, and Sébastien Monnet. 2014. Matchmaking in multi-player on-line games: studying user traces to improve the user experience. In Proceedings of Network and Operating System Support on Digital Audio and Video Workshop.7--12.

Cited By

View all
  • (2024)Network Design Considerations for Trading SystemsProceedings of the 23rd ACM Workshop on Hot Topics in Networks10.1145/3696348.3696890(282-289)Online publication date: 18-Nov-2024
  • (2024)Free-Space Optical (FSO) Satellite Networks Performance Analysis: Transmission Power, Latency, and Outage ProbabilityIEEE Open Journal of Vehicular Technology10.1109/OJVT.2023.33414095(244-261)Online publication date: 2024
  • (2024)Background5G Edge Computing10.1007/978-981-97-0213-8_1(1-16)Online publication date: 1-May-2024
  • Show More Cited By

Recommendations

Comments

Please enable JavaScript to view thecomments powered by Disqus.

Information & Contributors

Information

Published In

cover image ACM Conferences
IMC '20: Proceedings of the ACM Internet Measurement Conference
October 2020
751 pages
ISBN:9781450381383
DOI:10.1145/3419394
Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for components of this work owned by others than the author(s) must be honored. Abstracting with credit is permitted. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission and/or a fee. Request permissions from [email protected].

Sponsors

Publisher

Association for Computing Machinery

New York, NY, United States

Publication History

Published: 27 October 2020

Permissions

Request permissions for this article.

Check for updates

Author Tags

  1. high frequency trading
  2. low latency
  3. network design

Qualifiers

  • Research-article
  • Research
  • Refereed limited

Funding Sources

  • NSF

Conference

IMC '20
IMC '20: ACM Internet Measurement Conference
October 27 - 29, 2020
Virtual Event, USA

Acceptance Rates

IMC '20 Paper Acceptance Rate 53 of 216 submissions, 25%;
Overall Acceptance Rate 277 of 1,083 submissions, 26%

Contributors

Other Metrics

Bibliometrics & Citations

Bibliometrics

Article Metrics

  • Downloads (Last 12 months)25
  • Downloads (Last 6 weeks)1
Reflects downloads up to 20 Dec 2024

Other Metrics

Citations

Cited By

View all
  • (2024)Network Design Considerations for Trading SystemsProceedings of the 23rd ACM Workshop on Hot Topics in Networks10.1145/3696348.3696890(282-289)Online publication date: 18-Nov-2024
  • (2024)Free-Space Optical (FSO) Satellite Networks Performance Analysis: Transmission Power, Latency, and Outage ProbabilityIEEE Open Journal of Vehicular Technology10.1109/OJVT.2023.33414095(244-261)Online publication date: 2024
  • (2024)Background5G Edge Computing10.1007/978-981-97-0213-8_1(1-16)Online publication date: 1-May-2024
  • (2023)Hollow-Core Optical Fibers for Telecommunications and Data TransmissionApplied Sciences10.3390/app13191069913:19(10699)Online publication date: 26-Sep-2023
  • (2023)Divided at the Edge - Measuring Performance and the Digital Divide of Cloud Edge Data CentersProceedings of the ACM on Networking10.1145/36291381:CoNEXT3(1-23)Online publication date: 28-Nov-2023
  • (2023)Mega Constellation Networks are Reliable against Geographical Failure2023 IEEE 98th Vehicular Technology Conference (VTC2023-Fall)10.1109/VTC2023-Fall60731.2023.10333419(1-5)Online publication date: 10-Oct-2023
  • (2023)Satellite Computing: Vision and ChallengesIEEE Internet of Things Journal10.1109/JIOT.2023.330334610:24(22514-22529)Online publication date: 15-Dec-2023
  • (2021)Challenges and Opportunities in Space Service Computing2021 IEEE International Conference on Services Computing (SCC)10.1109/SCC53864.2021.00016(44-51)Online publication date: Sep-2021

View Options

Login options

View options

PDF

View or Download as a PDF file.

PDF

eReader

View online with eReader.

eReader

Media

Figures

Other

Tables

Share

Share

Share this Publication link

Share on social media