Mostly reports the death of electronic trading. Interesting follow up comments. The names mentioned as laid off are ecommerce/esales people. I know I’m hiring, but then I’m etrading software development, not marketing and sales. However, in my current hiring round I am seeing CVs from front office developers laid off in November and December 2007. But I haven’t yet seen a CV from a rates etrading developer made redundant.

Bloomberg and Merrill

January 16, 2008

So there are reports that Merrill may sell its stake in Bloomberg to raise capital. Bloomberg is still a private company, and Merrill has had a stake since they became Bloomberg’s first customer 20 years ago. Would Bloomberg buy the stake back ?  Fixed income dealers recently bought back into TradeWeb in the Fusion project. As a result TW is moving away from RFQ to an RFS model, which favours dealers. If dealers buy Merrill’s Bloomberg stake, the same could happen there…

Hiring again…

January 10, 2008

I’m recruiting again, for a new project. The developers I hire may find themselves coding in C++, Java, C#, Python, SQL or JavaScript. But I’ll stick with my approach of just hiring strong C++ devs. From experience I know that a developer who’s mastered C++, STL and multithreading can tackle anything. The same is not true for a Java only developer: Joel explains why

Christmas reading

January 5, 2008

I guess I was a good boy last year, as Fr Christmas bought me a mini-V S37, Bloomberg by Bloomberg, Fooled by Randomness and The Truth about Markets. I’ve read Taleb‘s book twice before, this copy’s for reference. Kay’s book on markets is an economic polemic, rather than being about any specific financial market. Bloomberg’s book is readable, entertaining and somewhat informative, but a little frustrating.

Some of the usual suspects show up in Bloomberg’s book: Gutfreund, for instance. There’s some interesting detail on Bloomberg’s early career at Salomon. Also good coverage of Bloomberg’s first deal with Merrill, differentiation from Reuters and Dow Jones by providing historical data and analytics as well as raw pricing data, and bulding an information business generally. Bloomberg’s comments on the excellence of his company’s customer service are inadvertently funny. And he does blow his own trumpet somewhat. Mildly, not strongly, recommended.