Fragmentation of Markets Drives Computing Advances
|Jan 3rd, 2012 | Filed under: Algorithmic and high-frequency trading, Today's Post | By: cfaille||
Complex Event Processing, the ability of computer systems (using Event Query Language) to analyze and correlate many events happening in real time, through pattern detection, abstraction, and hierarchical modeling, may be the next Big Thing in the space where IT meets finance. In much of the world, the increasing fragmentation of markets is playing a part in this development, requiring that systems be built to handle higher levels of complexity.
Speaking the Language
EQL can be understood by the contrast with its precursor, the common database language Structured Query Language (SQL), an ISO standard since 1987. SQL uses database attributes based on the needs of vendors (product type, company name, size of order). EQL has a very different set of elements (time, event abstraction, and causality) to serve different needs.
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Christopher Faille is a Jamesian pragmatist. William James has taught him, for example, that "you can say of a line that it runs east, or you can say that it runs west, and the line per se accepts both descriptions without rebelling at the inconsistency."