The Technology

Through a combination of videos, course notes and a quiz, you will be guided through everything you are expected to know under the "Technology" section of the FIA Syllabus.

THE MODULE CONSISTS OF:

• Videos: 2 hours and 47 minutes
• Course notes: 41 pages of downloadable summary notes. The notes are clearly marked and follow each of the topics listed on the FIA syllabus. The notes should be worked through in conjunction with the videos to ensure you are fully prepared to take the exam. We recommend you print these off and make notes as you watch the videos.
• Quiz to test your knowledge: Complete the quiz after you have finished studying the videos and course notes. It is recommended that you do the quiz without referring to the notes so that you gain a better understanding of the areas you may need to focus on. You will be provided with your score at the end.

HOW LONG DO I HAVE ACCESS FOR?

You have access to the course for 365 days from the date of purchase.

HAPPY LEARNING!


TO BOOK YOUR EXAM PLEASE DO SO VIA THE FISD WEBSITE
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FISD FIA SYLLABUS v4.0
THE TECHNOLOGY - MODULE 3

The various technologies that are deployed in association with market and reference data and how they are used. While a candidate is not expected to know all of the following in any kind of detail, you are expected to recognize the phrases and understand very broad concepts and the overall context where such things are relevant.

3.1 TECHNOLOGY BASICS AND TERMINOLOGY
What the following basic technology elements are and their relevance in the world of market and reference data:

3.1.1 Hardware
What is Hardware
• Processor
• Memory
• Storage (disk, tape, USB/memory stick, SAN)
• NIC (network interface card)
• KVM (keyboard, video and mouse) switches
• FPGA – field programmable gate array
• Telecoms turret

3.1.2 Operating systems
What is an operating system
• Windows (various)
• Unix, Linux
• Mac (Apple)

3.1.3 Applications
• Spreadsheet (incl. MS Excel, Functions, DDE, RTD, Macros, VBA)
• Databases (Incl. SQL and Database Queries)
• Custom applications (in-house, vendor)
• Browser, messaging, email

3.1.4 Software/application development
• What is software/firmware
• Programming Languages (C, C#, .NET, Java, Perl, Python)
• API (Application Programmatic Interface)
• FPGA and hardware acceleration
• Hadoop (Big Data)

3.1.5 General computing technology
• The Internet (the world wide web)
• Distributed computing/systems
• Grid computing
• Cloud computing (the cloud)
• Big data
• Artifical intelligence (AI)
• Machine learning (ML)
• Quantum computing
• Natural language programming
• Quantum computing
• Deployed/hosted
• Blockchain - distributed ledger
• Cyber security

3.1.6 Connectivity
• Networks
• TCP/IP
• Point to point
• Multicast
• Broadcast
• Transmission medium (copper, fiber optics, satellite, microwave)
• Network/communications hardware (hubs, switches, routers, modems, firewalls)
• Telco providers
• Leased lines
• VPN
• Internet
• Extranet
• Middleware
• Bandwidth, throughput
• Hosting, data center
• Co-Location
• Managed service
• Proximity

3.1.7 Stability
• Resilience and fail-over
• Latency
• Scalability
• Message rates

3.2 DATAFEEDS
What is meant by a datafeed, and:
• How a datafeed is typically delivered to a client
• What a “consolidated” datafeed is
• What a “direct” datafeed is
• How datafeeds are processed

The following terminologies as they relate to data feeds:
• Throttling, pulsed, intervalized
• Snapped, streaming, delayed, real-time, EOD, conflated
• Push/pull technologies
• Pub/Sub mechanisms
• Protocols (FIX, FAST, ITCH, XML)

A candidate should have an appreciation of the strengths and weaknesses of various types of datafeed offerings and the effort required to implement new or to migrate between feeds. They should further have a broad understanding of when and why datafeeds might be implemented. A candidate should have a robust understanding of the datafeed offerings in the market:
• Aggregated/consolidated
• Direct
• Hybrid or co-located or hosted solutions

3.3 Data Distribution – systems and software
How data is distributed both between the provider and the client site but also within and around the client site. They should understand the basics of market data distribution systems, and:
• What is a market data distribution system (MDDS)?
• What application permissioning and user entitlements is?
• What is broadly understood by the phrase EDM system?

3.4 DESKTOPS (e.g.TERMINALS)

3.4.1 Workstations
• The basics of desktop workstations

• The role of Microsoft Windows: DDE, OLE and RTD;
• How market data applications connect and communicate with the server;
• The difference between fat and thin client technology.

• The key workstation offerings in the market.
• The role of profiling
• High versus mid tier solutions
• Understand the main vendors and their different offerings
• Have a basic understanding of mobile and handheld devices and how data can be distributed and displayed to such devices.

3.4.2 Instant messaging
Instant messaging (IM) has become part of the product offering of many market data vendors.
A candidate should understand the broad concepts of IM and Chat - and the key providers to the financial community with specific focus on how this has been associated with market data solutions; Also the compliance obligations for storage and retrieval of IM transcripts.

3.4.3 Transaction products
In addition to providing core market data, many market data vendors have expanded into the transaction product space, and support and ownership of these products often fall under the market data groups” responsibility.
Have a broad understanding of this area and the products that are provided.
What the phrase “view and do” means.

3.5 APPLICATIONS AND ASSOCIATED TECHNOLOGY

3.5.1 Application types
How and why applications are deployed and how they either add value to market and reference data, or how they consume it as part of a wider functionality.
• Charting and technical analysis
• Various mathematical functions
• Algorithmic trading
• Risk management
• Trading systems
• OMS & EMS
• Smart order routing
• Pricing systems

3.5.2 Alogorithmic trading
Specifically for algorithmic trading, a candidate should understand the market data technologies currently in play, who are the key vendors, what are their key challenges, including their recent history and reason for being. Candidates should also understand in broad terms:
• Low latency feed and distribution systems
• Messaging systems
• Complex event processing (CEP) and its relevance
• The reasons for tick capture systems
• The reasons for latency metrics and the existing technologies being marketed
• The benefits and challenges of co-location and proximity hosting

3.5.3 Price contributions
The concept of price contributions, methods and core components:
• Spreadsheet publishing
• Multi-vendor contribution systems
• Vendor contribution protocols

3.6 DEVELOPMENTS, IMPLEMENTATION, MANAGEMENT AND SUPPORT
How applications and systems are developed, deployed and subsequently maintained.

3.6.1 System development
• Basic understanding of programming languages and terminology (code, run-time, API, UAT, version control, etc.);
• Development environments (dev, QA, production);
• Handling data (data integrity, support of entitlements and usage tracking, implications of derived data and redistribution);
• Importance of test environments.

3.6.2 Implementation
• How systems are tested and deployed
• The techniques used to package software for mass deployment
• Software compatibility issues and resolution
• Importance of change management processes
• Effective communication and planned changes - including leadtime
• The role of “project management”
• The importance of being able to “fall back” to an earlier version
• The importance of backward compatibility

3.6.3 Support
• Importance of incident and problem management within market data
• Need for capacity management as it relates to market data
• Understand client (i.e. end users) base and impact of systems failure (availability management)
• Impact of systems recovery to end users and applications
• Business continuity management and disaster recovery planning
• System monitoring and alerting, including latency

3.7 ENTERPRISE AND REFERENCE DATA MANAGEMENT
How data is distributed both between the provider and the client site but also within and around the client site. A candidate should understand the importance of Enterprise Data Management (EDM) and hence the technologies required to support it. They should also understand the interdependencies between reference data and price data.
Candidates should be familiar with data providers and solution providers servicing this market segment.

3.7.1 Basics of back office data distribution systems
The basics of back office data distribution systems
• What a reference data distribution system is
• Understand how files are transferred via FTP, push/pull, secure FTP, automated FTP extraction delivery.

3.7.2 Types of information files
Understand differences between types of information files – reference data; pricing, corporate actions supplied and
the range and types of instruments which can be accessed.

3.8 THE CLOUD
• The basics of what 'the cloud' is
•  Differences between public, private and hybrid
• Major western providers
• APAC providers
• Market data in the cloud

3.9 ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING
• What are the broad concepts?
•  How do cloud providers fit in this area?
• Where would Natural Language Processing (NLP) play a role?