on Tuesday, April 27, 12-Noon to 1:30pm
at: Reuters offices, 2 First Canadian Place, Suite 2000

The April meeting of the Toronto APL SIG will feature two talks on Financial Software

PLEASE NOTE CHANGE OF MEETING TIME AND LOCATION!

LOCATION:
In order to reach those members who work in the financial district, Reuters has kindly agreed to host the meeting in its offices in the Exchange Tower. The address is Suite 2000 (20th floor), 2 First Canadian Place. This is the tower on the northeast corner of King and York.

(LUNCH)TIME:
It's the last Tuesday of the month, as usual: APRIL 27, 1999. BUT we're meeting at LUNCH time: 12:00-1:30.
Please arrive a few minutes early to sign in. Bring your lunch!

Free admission. Attendance will be limited to the first 50 to arrive, to fit the room.

TALKS

  1. "Distributed Bond Trading Applications"
    Speakers: Diarmuid Salvadori and Eric Steinberg of Spectra Securities Software Inc.

  2. "Real-Time Pricing of American Call Options: an APL Client approach"
    Speakers: Clement Kent and Robert Bernecky of Godel Computer Solutions and Snake Island Research.

Details:

"Distributed Bond Trading Applications"

Spectra Securities Software is a Toronto-based international player in front office automation. We are fortunate to have two executives from Spectra to talk to us about some of the software challenges faced in developing and enhancing a real-time bond trading system.

Spectra's software allows financial institutions to deliver Fixed Income product to retail desks. Some of the technical challenges faced included the need to deliver 2,000 updates per minute on a real-time basis using publish-subscribe methods to 1500 client stations, with 24/7 high reliability.

"Real-Time Pricing of American Call Options: an APL Client approach"

Pricing American Call Options takes much more CPU than pricing European Options, where the Black-Scholes formula gives a direct answer. Re-pricing many American options when a large, simultaneous market move is occurring has to be done rapidly on the basis of constantly changing input.

Can an APL application running on a desktop platform meet the goal of real-time market-wide repricing? Clement Kent and Robert Bernecky look at ways to meet this challenge.

Inquiries may be sent to Clement Kent