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The 2016 Trading Technology 40: Dave Snowdon

< The 2016 Trading Technology 4039Dave SnowdonCo–Chief Technology OfficerMetamakoPNR

Like Level39 in London and other financial technology innovation hubs around the world, Sydney’s Stone & Chalk is primarily populated by software entrepreneurs hoping to bring their apps, analytics and other tools to the attention of buyers and investors. By contrast, Metamako is a hardware company that was already making waves in the trading industry when it announced its move into Stone & Chalk last summer. Founded three years ago by Dave Snowdon and his co-CTOs Scott Newham and Charles Thomas, and building on their financial market engineering experience, Metamako develops high-performance network devices specifically for firms that depend on low latency. It’s not just about raw speed, as in the nanosecond-measured two-way communications verified in benchmark testing of the company’s FPGA (field-programmable gate array) devices. Market players are looking for “deterministic latency,” a predictability that is “more important than latency,” Snowdon, 35, asserts. “Determinism will help provide a fairness improvement to the markets.” Signs that Metamako is delivering on its motto of “simplifying networks, reducing latency and increasing flexibility”: It has doubled its original team size, to 16, and opened offices in London and New York. Fintech start-ups have a hard time making their first sales, especially to large financial institutions. Metamako found “early adopters” at high frequency trading firms willing to experiment with offerings when they were “still half-baked,” Snowdon explains. Now doors have opened at banks, brokerages and exchanges, and in the telecommunications industry. Those users are considering additional ways to apply the technology, such as in security and systems monitoring. Network monitoring is a prerequisite for compliance with Europe’s Markets in Financial Instruments Directive (MiFID II), which Snowdon notes had to be delayed in part because of technological shortcomings. MetaWatch, a Metamako application launched in November, addresses part of the problem with “highly accurate time-stamping and data capture, he says.”

 

 2016 Trading Technology 40Click below to view profiles
1. Raymond Tierney IIIBloomberg2. Richard PragerBlackRock3. Chris IsaacsonBATS Global Markets4. Jonathan RossKCG Holdings5. Bradley PetersonNasdaq
6. Brad LevyMarkit7. Dan KeeganCiti8. Ronald DePoaloFidelity Institutional9. Raj MahajanGoldman Sachs Group10. Ari StudnitzerCME Group
11. Mayur KapaniIntercontinental Exchange12. Gerald O’ConnellCBOE Holdings13. Nicholas ThemelisMarketAxess Holdings14. Gil MandelzisEBS BrokerTec (ICAP)15. Bill Chow and Richard LeungHong Kong Exchanges and Clearing
16. Rob ParkIEX Group17. Philip WeisbergThomson Reuters18. John Mackay (Mack) GillMillenniumIT19. Robert CornishInternational Securities Exchange20. Paul HamillCitadel Securities
21. Eric NollConvergex22. Tyler Moeller and Joshua WalskyBroadway Technology23. Rishi NangaliaREDI Holdings24. Veronica AugustssonCinnober Financial Technology25. Alasdair HaynesAquis Exchange
26. Manoj NarangMana Partners27. Gaurav SuriArcesium28. Robert SloanS3 Partners29. Anton Katz and Stephen MockAQR Capital Mgmt30. Stu TaylorAlgomi
31. D. Keith Ross Jr.PDQ Enterprises32. Donal ByrneCorvil33. Alfred EskandarPortware34. R. Cromwell CoulsonOTC Markets Group35. Masayuki HosakaRakuten
36. Peter Maragos and David KaratDash Financial37. Amar KuchinadElectronifie38. Jennifer NayarSR Labs39. Dave SnowdonMetamako40. Dan RajuTradier