U.S. Treasury Securities

eip Trading

eip Trading is in the early stages of developing a U.S. Treasury Bond trading engine. The goal is to completely automate the trade life-cycle, a process that will include market making, trade execution, risk management, accounting, and settlement.

If the project is successful, it will provide the marketplace with better liquidity at a much lower cost, driven by the efficiency of an artificial intelligence (AI) trader and the speed of today’s computers and high-speed networks.

The Story Behind the Name “eip Trading”

Leonhard Euler was a famous 18th century Swiss mathematician and physicist. His many achievements include his contributions to calculus, trigonometry and complex analysis, his introduction of functions (f(x)), the natural logarithm “e” (named for him), and his popularization of the letter “i” for imaginary numbers (i is the square root of negative one) and the Greek symbol π (pi).

Euler also derived one of the most famous mathematical equations in history:

This equation unifies five critically important numbers (e, i, π, 1, and 0)  in one elegant equation.

The simplicity and beauty of Euler’s Equation is the inspiration for “eip”. The numbers 1 and 0 are implied, since the project involves computers and algorithms, where the binary 1 and 0 are the building blocks of logic, computer science, and the digital age.

The Purpose of the Blog

… is purely educational. The U.S. Treasury securities market is one of the largest and most important in the world for both the U.S. and the global economy. The intent of this blog is provide information to the public about the dynamics, intricacies, and inner workings of the U.S. Treasury Securities market. The blog presumes a basic understanding of economics and financial concepts.

About Larry Ng

• Principal and Managing Director of Corporate Development, Wall Street Systems; Market leader in treasury and trade processing software
• Founder, EVP and Global Head of Product, Technology and Operations, Moneyline Telerate; Global provider of real-time capital markets data and applications
• Founder and CIO, TradeWeb; Largest fixed income ECN
• Board Advisor and Technology Partner, Market Axess; Corporate and Eurobond ECN
• Board Advisor and Strategic Consultant, CanDeal; Largest Canadian Bond ECN
• Founder and Board Director, Gmarkets; Internet provider of capital market data
• Founder and President, SpectraSoft; Financial analytics software company
• Architect of the Liberty Trading System; U.S. Treasury bond trading system for Primary Dealers
• Designer and Developer of the Bond Trader, front-office bond trading system for dealers
• Designer of the 1st electronic bond trading system, The Odd-Lot Machine
• Developer of The Capital Markets Library, a fixed income calculation library
• Fixed Income Arbitrage Trading and Risk Management, Merrill Lynch Capital Markets
• OTC Derivatives Consultant, Bankers Trust
• Management Consultant, Chemical Bank
• Microprocessor Chip Designer, IBM
• The Wharton School, MBA in Finance, COGME Fellow
• Bachelors in Electrical Engineering, The Cooper Union
• Former Trustee, Chairman of the Development Committee, Alumnus of the Year, The Cooper Union
• 100 Most Influential People in Finance, Treasury & Risk 2010

Acknowledgement

Lisa Mogilanski helped with reviewing, writing, and editing the articles on this site. She is studying economics at Harvard University.

Thank You

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