• LMAX Exchange Security Standards

  In the last week, a high profile bug known as “Heartbleed” was revealed in the OpenSSL software widely used to encrypt secure web sessions. A fix for it was available pretty quickly, but the main cause for concern was the risk that the secret keys that underpin the SSL certificate system may have been stolen from affected sites. Rather than try and explain what heartbleed was/is I’ll point you at the clearest explanation I’ve come across here.

  The LMAX Exchange trading platform was not affected by the Heartbleed bug, but along with other recent high profile attacks and vulnerabilities (for example the Apple SSL bug) it’s been a good time to take a look at LMAX Exchange’s security standards, and some ways we are continuously improving security behind the scenes.

  Heartbleed was a good test of our ability to respond. Within hours of the announcement hitting the wires we were auditing our entire range of SSL-encrypted external systems. Although none of our exchange and trading systems were affected we did uncover an issue with an internal corporate mail system, which required a slightly home made patch, as we were not prepared to wait for the vendor to provide one.

  So, a quick recap of recent security related changes to the platform.

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• Digital currencies are here to stay

  Scott Moffat, LMAX Exchange COO, comments on crypto, digital and virtual currencies, and believes they are here to stay. Moffat references the current issues around virtual currencies, most notably the technology, storage, clearing/settlement and regulatory issues. He believes that in order for Bitcoin to become mainstream the anonymity will need to disappear to allow venues with a regulatory responsibility to list the currency, nevertheless digital currencies are here to stay.

  Scott Moffat, LMAX Exchange COO, shares insights.
  
  
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• Spot FX – on its way back?

  David Mercer, LMAX Exchange CEO, comments on the recent trend of major venues reporting declines in FX volumes. He believes this will stop, with venues expected to report an increase in volumes in March due to increasing confidence in the market along with greater volatility and opportunity. Overall, 2014 should be a good year for the FX market as a whole.

  David Mercer, LMAX Exchange CEO, shares insights.
  
  
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• “Flash Boys” – Rigged or Imperfect?

  David Mercer, LMAX Exchange CEO, shares his thoughts on the recent book release of “Flash Boys” and the sensationalist views expressed by its author Michael Lewis. David Mercer comments, algorithmic execution is a part of high frequency trading (HFT) and that all market makers and exchanges engage in HFT. Exchanges are very transparent venues with everyone having a choice as to whether they trade there or on another venue, and the notion that an author has uncovered rigging in the markets is false.

  David Mercer, LMAX Exchange CEO, shares insights.
  
  
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• Safer & more efficient markets following 2013 – 2014 regulatory changes?

  LMAX Exchange CEO, David Mercer comments on whether the markets are safer and more efficient following the regulatory changes seen in 2013 and at the start of 2014. David Mercer suggests the full effect is still yet to be seen, however trade reporting and central clearing can make the markets safer and more efficient if […]

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• Greater Transparency through Randomisation?

  LMAX Exchange, CEO, David Mercer shares his thoughts on the recent news on how the randomisation of an order book leads to greater transparency.
  
  David Mercer comments the efficiency of randomisation might be perceived as a short term solution to greater transparency, however randomisation is not practised in any of the major global exchanges and experience to date dictates clients do not want their order filled randomly.

  David Mercer, LMAX Exchange CEO, shares insights.
  
  
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• Fast growth – LMAX Exchange

  Latency is a big deal for trading in FX and other financial instruments for that matter. At LMAX Exchange fast and consistent execution is really important for our clients – as are our unique vision of a level playing field for buy and sell side, transparency and fairness. Speed of trade execution is really important […]

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• LMAX Exchange is hiring

  LMAX Exchange is looking for a new senior tester who enjoys technical challenges. If you’re interested here are some of the things we’re looking for:

  you are doing exploratory testing with all sorts of tools,
  you have been using Webdriver …

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• Test Feed » LMAX Exchange 2013-11-21 12:19:59

  I’ll be joining Tony Bruce to present at the Agile Testing & BDD Exchange at Skills Matter in London, on 22nd of November 2013. We’ll be covering the subject “What do testers do?”. Topics will include: what makes a tester ti…

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• Questioning EuroSTAR conference

  Conference finished, presentation done, time to reflect.
  Monday’s keynote – “Skeptical self-defense for the serious tester or, how to call a $37 billion bluff” by Laurent Bossavit – being bullied with false claims, metrics…

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