Daily Spiritual Wisdom



Someone has written these beautiful words. It’s a must read! Try to understand the deep meaning of it. They are like the ten commandments to follow in life all of the time !

1]Prayer is not a “spare wheel” that you pull out when in trouble, but it is a “steering wheel” that directs the right path throughout the journey.

2] So why is a Car’s WINDSHIELD so large & the rear view mirror so small? Because our PAST is not as important as our FUTURE. So, look ahead and move on.

3] Friendship is like a BOOK. It takes a few minutes to burn, but it takes years to write.

4] All things in life are temporary. If going well, enjoy it, they will not last forever. If going wrong, don’t worry, they can’t last long either.

5] Old Friends are Gold! New Friends are Diamond! If you get a Diamond, don’t forget the Gold! Because to hold a Diamond, you always need a Base of Gold!

6] Often when we lose hope and think this is the end, GOD smiles from above and says, “Relax, sweetheart, it’s just a bend, not the end!

7] When GOD solves your problems, you have faith in HIS abilities; when GOD doesn’t solve your problems HE has faith in your abilities.

8] A blind person asked St. Anthony: “Can there be anything worse than losing eye sight?” He replied: “Yes, losing your vision!”

9] When you pray for others, GOD listens to you and blesses them, and sometimes, when you are safe and happy, remember that someone has prayed for you.

10] WORRYING does not take away tomorrow’s TROUBLES, it takes away today’s PEACE.

If you really enjoy this, please pass on to others. It may just brighten someone’s day. Live simply. Love generously. Care deeply. Speak kindly. Leave the rest to GOD.


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NYU Course Proposal – ULL Architectures for Electronic Trading


NYU School of Professional Studies – course proposal – Ted Hruzd July 2016
ULL (Ultra Low Latency) Architectures for Electronic Trading

***if interested in this course
contact me- tedhruzd@gmail.com

***no confidential info
from current or former employers are listed
here or will be taught

NYU School of Professional Studies – course proposal – Ted Hruzd 2016
ULL (Ultra Low Latency) Architectures for Electronic Trading
Course Objectives

Develop advanced skills in architecting electronic trading and market data applications for ultra low latency (ULL), for competitive advantage, and for positive ROI.  At end of course one will have developed expertise in end-end architecture of electronic trading infrastructure, including architecting of:


  • Multi core, high speed cache Intel based servers
  • Linix 7.2 kernel and NIC tuning
  • Kernel bypass technologies including RDMA and LDMA
  • FPGA based NIC(s) – from ExaBlaze
  • Single tier (or simplified spine-leaf); Ex: Plexxi
  • Layer 1 network switches (ExaBlaze & Metamako)
  • SDN (Software Defined Networks)
  • New binary FIX protocol for ULL order routing
  • ULL messaging middleware (29 West LBM/UME) and 60 East Tech AMPS
  • ULL software design (deep vectors and multi threading)
  • Databases – structured and unstructured
  • Storage, including NVME Flash
  • Tools (some free) to attain performance optimization insights
  • Network appliances – detailed timings/analyics – network, market data, and order routing
  • Big Data and Event Stream processing, real time analytics for seeking alpha (trade opportunities)
  • Fundamentals of FPGA design and programming
  • ROI analysis

PreReq – Intermediate – advanced knowledge of

  • TCP/IP, UDP, multicast,
  • Linux OS and shell or scripting (ex bash, perl),
  • Intel servers
  • Network routers, switches
  • FIX protocol
  • Market Data
  • Visio
  • Python (very basic will be fine – a 2 hour reading assignment will be arranged for beginners)
  • R programming (nice to have. Will use basics that one can learn in 1-2 hours),
  • at least 2 years working with electronic trading applications/infrastructures as Developer, SA, network admin/engineer, Architect, QA analyst, tech project mgr, operations engineer, manager, CTO, CIO, CEO, vendor or consultant providing technology to Wall Street IT

Course Logistics

  • approx 9 week course, to meet once a week for 3 hours.
  • Tech book(s) to download to kindle TBD
  • Multiple web site links to technical white papers and tech analyses
  • Visio
  • Homework every week, to be reviewed in class for 30 minutes, after submission
    All homework will describe real world problems or architectures to build and justify.  Answers will include creating Visio diagrams to solve, list infrastructure designs and reconfigurations, and performance tuning of OS, servers, NIC’s, networks, application design






INTRO – Why speed matters and a fundamental analysis of a ULL architecture

  • Will present a Visio diagram with a potential co-lo ULL architecture that receives orders destined for trading venues, utilizing Layer 1 switching. Goal: 500 nanosecond Ack times ingress to appliance that includes Layer1 switching to/from Trading venues).
  • We will periodically revisit this co-lo architecture throughout this course when we cover specific architecture components in depth (Algo Trading and/or SOR that feeds this architecture, use of FPGA, multi-cores, and Layer 1 switching)
  • Why speed of processing still matters and will for next several years at least
  • Why Layer 1 switches
  • Layer 1 switch with integrated cores and FPGA for risk checks
  • High speed real time analytics for seeking alpha (trade opportunities) & infrastructure analytics
  • Exchange (Trading Venue) connectivity
  • Layer 2/3 aggregation in new switch appliances
  • Role of Linux kernel tuning for ULL
  • Present some Linux configurations to critique
  • HOMEWORK – Given few server, Linux configurations with flows, respond with measures to optimize performance & lower latencies



OS, Servers, Software, intro to networking

  • Review Homework
  • Deep dive into Linux 7.2 network-latency configuration + additional tuning options
  • Basic Linux and Server measures and utilities for performance analytics:
    • Disable unnecessary daemons and services (ex firewalld & iptables)
    • BIOS updates and tuning
    • Turbostat
    • Lstopo
    • Lscpu
    • Numactl
    • Numastat
    • Tuned
    • Isolcpus
    • Interrupt affinity or isolation
    • Irqbalance
    • Busy_poll
    • Tuna
    • Perf
    • Mpstat, vmstat, iostat, nicstat, free, top, netstat, ss
  • VM (Virtual Memory) and page flushes, optimize market data caches
  • Slow network connections and packet drops
  • Intro to NetPerf tool
  • NIC tuning
  • Kernel bypass, LDMA, RDMA
  • Kernel bypass with NIC vendors (ExaBlaze, SolarFlare, Mellanox) – description how each work
  • Network appliances:
    • ExaBlaze Fusion
    • Metamako MetaApp
    • FixNetics ZeroLatency
  • HOMEWORK – per given atchitectures and requirements, configure kernel bypass (will draw on knowledge of ExaBlaze, SolarFlare, Mellanox) + more advanced kernel tuning configurations also per given architectures – given an environment with memory pressure + packet drops Also will be given Python programming reading assignment



OS, Servers, Software, intro to networking (cont)

  • Quick intro Python
  • Programming with Multiple core multi thread, parallelism
  • Vectorize application code
  • Design – Internal loops with deep vector instructions, outer loops with parallelization (threads)
  • Servers, sockets, cores, caches
  • Core speeds GHz vs more cores, larger and faster caches
  • Over clocked servers – features and what applications can benefit
  • Linux, Solaris, Windows, other ex SmartOS, Mesosphere DC OS
  • How to benchmark performance, analyze, tune
  • NUMA aware processes and threads
  • Optimize cache assignments per high priority threads
  • Intel technologies including …
  • AVX-512 deep vector instructions
  • TBB thread Building blocks
  • Omni-Path high speed / bandwidth interconnect and QPI
  • PCIE
  • NVME
  • Flash SSD Drives
  • C ++ vs Java for ULL
  • Lists vs vectors
  • Iterate lists
  • Role of FPGA, GPU, MicroWave networks for ULL
  • C/C++, Java, Python, CUDA, FPGA: programming design considerations
  • Java 8 new streams API and lambda expressions – for analytics
  • HOMEWORK – all reading/studying – (1) Python for algo trading (texts and materials to be provided) & (2) links to ULL Network – deep dive white papers & (3) intro to Wireshark



ULL Networks

  • Review and key points of reading assignment + short quiz to test knowledge
  • Intro to Wireshark
  • Intro to FIX Protocol
  • Intro to Wireshark with FIX protocol “Plug-in”
  • TCP, UDP, multicast (MC), then analysis via WireShark, Corvil
  • New age networks – Spine leaf to single tier
  • SDN (Software Defined Networks)
  • Pico – ULL SDN vendor
  • Cisco and Arista switches for ULL
  • Cisco ACI and Cisco Tetration – Deep machine Learning to automatically optimize large networks
  • Switches with deep buffers, great for Big Data Analytics
  • Configure Routers for ULL – LLDP, MLAG, VRRP, VARP (active-active L3 gateway)
  • Network protocols – BGP, OSPF, HSRP
  • Arista 7124FX with  EOS
  • Plexxi switches – a disruptive technology – single tier
  • Plexxi optimal bandwidth via its SDN
  • HOMEWORK – analysis of a sniffer trace, with recommendations how to optimize performance + more Python / Algo Trading reading



FPGA’s & Market Data

  • Hardware accelerated appliances for ULL and deterministic performance
  • Intro to FPGA’s including intro to FPGA design & programming (I/O blocks + Logic blocks)
  • Why performance tends to be very deterministic with FPGA’s & why deterministic performance (latencies) are critical for HFT and algo traders
  • Pitfalls of FPGA’s
  • FPGA’s vs GPU’s, Intel Phi, and multi cores
  • Feeds in FPGA –architecture, performance, design, support
  • Switch crossbars or caches for fan out with TCP distribution
  • Multicast performance considerations
  • Message based appliances, including FPGA based
  • Direct feed normalization
  • Conflation to conserve bandwidth
  • NBBO
  • Levels 1 and 2 market data
  • Depth of book builds (in FPGA’s or new multi core servers)
  • Smart order routers
  • Exablaze NICs and switches v Metamako switches for market data
  • ENYX FPGA NICs and Appliances for market data and order flow
  • Nova Sparks FPGA based market data ticker
  • Fixnetics Zero latency – multi thread risk checks in FPGA and order processing in parallel on a core(a)
  • Other products — Exegy, Algo logic, Redline, SR labs
  • Consolidated feed vendors Bloomberg and Thomson Reuters
  • HOMEWORK – in an “unturned” environment, run netperf tool to generate peaks in network traffic; set up nicstat to monitor, capture packets and analyze in Wireshark; repeat same test but with a tuned environment and one with ExaBlaze NIC(s) /ze NIC(s) /kernel bypass; also capture packets and timings but via ExaBlaze; compare performance.




Analytics  & Machine Learning:  to seek alpha and for infrastructure analytics

  • Intro to Big Data Analytics & Machine Learning (focus on neural networks)
  • Intro to Complex Event Processing (CEP) and Event Stream Processing (ESP)
  • Databases – Never in the path of ULL
  • Column based (contiguous memory) vs relational
  • KDB and OneTick – leading players in high speed market data tick databases
  • EVENT STREAM PROCESSING (ESP) – use ESP To seek alpha
  • Combine market data with News sentiment analytics to seek alpha,
  • Intro to Ravenpack news sentiment analytics
  • Intro to Spark
  • Role of new storage technology (ex NVMe Flash drives)
  • In-mem analytics ex HANA, Spark
  • Corvil – intro to how to configure Corvils and how to analyze FIX order flow with it
  • Machine learning, neural networks in R or Python – create equations to project latencies
  • Machine learning for Latency analysis, tuning insight, seeking alpha -trade opportunities
  • Programming for multi threaded trading risk analytics
  • HOMEWORK – additional stress tests (more volatile) in the environment with ExaBlaze NIC(s) + Wireshark analysis + additional reading in Python for Algo Trading




Middleware, High Speed Messaging

  • 60 West AMPS
  • 29 East LBM (UME)
  • New FIX Binary protocol in beta promises to lower latencies
  • Importance of High Speed messaging for Algo Trading
  • Intro to basic algo’s for trading equities (ex VWAP, Volume Participation, use of AVX and RSI)
  • How to back-test algo’s for trading
  • HOMEWORK – program an algo for trading in Python, (TBD- with options which to choose); connect with driver for market data; run a “back test”, analyze performance data via Wireshark with Exablaze generated captures (2 –weeks to complete this)


End-End ULL Architectures & Intro to Cloud Architectures

  • Co-Lo with 500 ns order ack times (revisited with our new knowledge)
  • Dark pools
  • Algo Trading (servers, appliances, or FPGA’s) in the architecture
  • Smart Order routers
  • Prop Trading
  • Exchanges
  • Why traditional cloud architectures fall short for ULL
  • Cloud for analytics – pitfalls vs best practices
  • Micro services potential
  • How to conduct ROI for new ULL architectures
  • HOMEWORK – VISIO of a new trading system TBD, applying all learned in course



Futures, including Cloud Architectures for ULL

  • Brief Quiz on material covered last week + review of VISIO assignment
  • Projections on new technologies’ impacts on ULL – may include:
  • new Intel cores & software,
  • adoption of Single Tier networks,
  • impact of in memory machine learning for alpha generation of trading signals,
  • integration of deep machine learning from cloud to live trading networks via high speed interconnects, to an asynchronous Q, with NO latency impact,
  • applicability of block chains,
  • system reliability engineering (SRE),








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A Parable by Jesus and Capitalism versus Socialism Debate

Ted’s letter was published in the August 20, 2015 edition of The Beacon, a weekly newspaper of the Roman Catholic Diocese of Paterson, NJ serving Morris, Sussex, Passaic counties.  The letter:

This is in response to Robert Matrisciano’s 8/6 letter “Capitalism allows Christians to espouse biblical social justice”.   The letter championed capitalism as a more effective means than socialism for social justice,  arguing that individual freedom to utilize ones  ‘treasure’ to benefit others is more effective than collective government policies.

Let us take the capitalism versus socialism argument to another level.  Please reference Matthew 25:14:30 – parable of a master providing three servants with 5, 2, 1 talents respectively, expecting a return.  The first two doubled their talents and were praised whereas the third one did not and was condemned.

Socialist ideology stresses that the Government provides all with cradle to grave entitlements, often with extreme confiscation of wealth in order to redistribute income and thus pay for wide gamut of entitlements, up to the point where the Government may find itself in heavy debt.  Why? This is due to less incentive for one to increase income, thereby decreasing government revenues.  The rise of increasing socialist economics in the US has created an ever increasing Dependency on Government class that feels entitled, to an extent, even to non essential, even immoral  ‘entitlements’ such as contraceptives, stealing from tax payer revenue or borrowing further from abroad, deepening debt.  Socialism degrades the human spirit to apply their God given talents to better themselves and the world.   Free market capitalism, in contrast, provides incentives for all to develop their God given talents to the maximum.  Which environment – capitalism or socialism – would best motivate the servants in the parable?  The answer is easy.  Study world economic history if you have any doubts.

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Bill de Blasio’s NYPD Agenda

Toon 9

I sent following to Bill O’Reilly:

Killing NYPD

De Blasio knows NYPD is not racist but he, along with Sharpton, Holder, Obama have following agenda:

Nationalize local police forces, via executive order IF the chaos against the police continues to escalate. This is a major prerequisite to a full socialist takeover. It is also up to us to state the obvious to our friends, family members, etc … so we can all peacefully protest this policy, DEMAND de Blasio resign, and elect leaders to reverse course.

** Bill – we are counting on you to step it up and call out these provocateurs on their agenda which is based on lies, else in a year or two someone will write a book ‘Killing NYPD’.

Bill – great reference what may indeed be going on with this agenda can be found at:


Look forward to your opening comment Monday 8 pm Jan 5!


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Jim Rickards Predicts an AfterShock Like Economy as Debt Explodes While Economy Weakens

Please read link way below regarding an interesting analysis and projection by successful investor Jim Rickards, with some great stats such as the Federal Reserve being leveraged 77:1; I believe that is up from 22:1 in 2008. Also note that $1 debt used to increase GDP by $2.41 in 50s and 60s; now this $1 increases GDP by only $0.03 and is in danger of turning negative, per Rickards.


1 theme he expands on therefore is that the Fed and Treasury are our greatest threat to national security. Rickards does predict an economy soon (perhaps within 6 months) that is quite similar to what Robert Wiedemer has been predicting for past few years – a $ collapse with severe economic adjustments required by the US. Reference AfterShock Economy:
Subsequent to further degrading of our debt and economic growth, Rickards foresees the possibility of the IMF bailing our Fed. The IMF is only leveraged by a 3:1 ratio.
i have not validated the stats or analysis but as i said – very interesting …

So how can we jump start the economy? Clearly tax reform must be one significant approach and be dealt with immediately. For more details visit — https://economics501.wordpress.com/category/tax-reform/

see link below

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Replace NJ Income Tax with state version of the Fair Tax

Following letter by Ted was published in The Daily Record June2 — http://www.dailyrecord.com/story/opinion/readers/2014/06/02/fair-tax/9802775/


I further expand on former state senator Ray Bateman’s argument that it is poor economic policy to tax the rich to the point where they leave the state. This not only takes away state revenues from their exit but also diminishes future revenues from the jobs many rich entrepreneurs create. In the end the state suffers from punishing income taxes. Tax more income and thereby expect less of it.



New Jersey should eliminate the state income personal and corporate taxes, thereby reward success (income), encourage more of it, and subsequently grow the economy along with more revenue potential for the state. New Jersey should then closely implement, at the state level, the Fair Tax. The idea is to replace income taxes with revenue neutral consumption taxes on new products and services. This tax reform at both the state and federal level would more strongly grow the economy, add new jobs, and thereby provide governments adequate revenue sources. Annual budget deficit woes may then finally become just memories.

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Answer Karl Marx Capitalism Prediction with the Fair Tax

Karl Marx predicted that capitalism contains the seeds of its own destruction.  That is correct if a capitalist government embarks on an extensive and ultra progressive tax system to finance excessive entitlements.  Marx succinctly stated this strategy would eventually lead to socialism and ultimately communism.


Our current tax system fairly close matches the above.  It punishes success (income growth) and thus stunts economic growth and widens the income gap.  Many of the poor likely realize that income is heavily taxed so why risk getting a job when the Government provides so much?

The Fair Tax (FT), in Congress as HR 25, provides incentives for all, by not taxing income and thus encouraging one to generate more income.  The FT is revenue neutral while eliminating all federal income and payroll taxes.  The FT generates revenue via a national sales tax on new products.

More of the poor will realize they can better themselves significantly by earning tax free income and not being punished by earning as much as they can.  They can then do their part to narrow the income gap.  To learn more visit http://www.fair tax.org, https://economics501.wordpress.com/category/tax-reform/,


Twitter @Economics501

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