In working on a current trader interface – I am dealing with more derivs traders. Along with other things – we will be dealing in Variance Swaps. I have good product knowledge in some areas – and in some areas – I am still learning (finance is a big world). In any case – I am always trying to understand the “business incentive” for using a particular product. In trying to understand this for variance swaps – I found this article that gave me just the angle I was looking for: The Art of the Variance Swap. Here are  a few more refs; Volatility Swaps (technical), @ Wikipedia.

 -Chris

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FPL Press Release: FPL Announces FIX Algorithmic Trading Definition Language Enters Beta Phase

Slides here

The gist is that if you have a GUI to exec trades @ VWAP, Implementation Shortfall, TWAP, Custom Algo X, Y and Z – these may all have different parameters. In fact – the spec goes as far as detailing parameters, validation and GUI controls. Interesting

Now – when we need to add new algos to a trading GUI – if we render our UIs based on the spec - there will be no new work – just point to the new XML data – and we have new UIs that send the correct data to the execution endpoint – sounds good – lets see when it is ready to go.

-Chris

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I just finished up The Five Dysfunctions of a Team.

 

 

The book is brief and a very easy read – in fable format. Here is the basic deal:

Of course – the most important/ biggest one is the bottom one – no trust. Teams without trust fail.

By contrast:

* conflict is really OK!

An interesting aside was that the book talked about the Myers-Briggs Type Indicator / Jung test a little. I have read other books that talked about this test. I am also reading User Interface Design for Mere Mortals® currently (just an OK book I must say). In the process of UI interaction design – it is key to understand your users. The idea of looking at the Myers-Briggs Type Indicator for end user personas came up here also.

You can take a free on line version of the jung test here. There are a few more of these on line as well – poke around. I took 1/2 hr and took 2 of these and compared the results (they came up with the same thing). I also had my wife take one – we enjoyed it. I think reading the results rang pretty true with both Shannon (my wife) and my own personalities.

My type was:

ENTJ (Extraverted Thinking with Introverted Intuition)- “Field Marshall”. The basic driving force and need is to lead. Tend to seek a position of responsibility and enjoys being an executive. 1.8% of total population.

A few article excerpts on ENTJs that rang with me:

“Fieldmarshals more than any other type desire (and generally have the ability) to visualize where the organization is going, and they seem able to communicate that vision to others. Their organizational and coordinating skills tends to be highly developed, which means that they are likely to be good at systematizing, ordering priorities, generalizing, summarizing, at marshalling evidence, and at demonstrating their ideas. ”

“…have a strong natural urge to give structure and direction wherever they are — to harness people in the field and to direct them to achieve distant goals. They resemble Supervisors in their tendency to establish plans for a task, enterprise, or organization, but Fieldmarshals search more for policy and goals than for regulations and procedures. “

Shannon’s was:

INFJ (Introverted iNtuiting Feeling Judging)  – “The protector”. Strong drive and enjoyment to help others. Complex personality. 1.5% of total population.

Excerpts on INFJs that rang with her:

“As an INFJ, your primary mode of living is focused internally, where you take things in primarily via intuition. “

“INFJs are gentle, caring, complex and highly intuitive individuals. Artistic and creative, they live in a world of hidden meanings and possibilities. Only one percent of the population has an INFJ Personality Type, making it the most rare of all the types. “

“INFJs have uncanny insight into people and situations. They get “feelings” about things and intuitively understand them. “

“But the INFJ is as genuinely warm as they are complex. INFJs hold a special place in the heart of people who they are close to, who are able to see their special gifts and depth of caring. INFJs are concerned for people’s feelings, and try to be gentle to avoid hurting anyone. They are very sensitive to conflict, and cannot tolerate it very well.“

.. all very interesting

Vaguely related; I also recently read The 360 Degree Leader: Developing Your Influence from Anywhere in the Organization. This was a really good book actually. It did a good job talking about how to “be in the middle” of an organization – without any real authority in many cases – and still be able to lead. I do not really feel the drive to “supervise” or to “run the universe” – but I do have a passionate drive for developing software for trading. I also have a passion about teamwork and interaction deisgn/ usability. I believe in the agile methods (process and practices) and I am used to “pitching my thoughts”. Good book for someone in a position where your ideas must be conveyed to help people succeed.

On another tangent – I have a bad audible addiction. I have recently listened to:

 Dune (classic) 

 Thirteen (Blackman in UK) 

 Seventh Son: Tales of Alvin Maker, Book 1 (Unabridged) ( and the 2 books following it in the series, 2 more coming next)

.. OK enough -I am off to put Micah to bed!

-Chris

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