I asked him how the product was progressing and asked him when the roll out was, i didnt even bring up what the issue was preventing the progression. He said the issue was with their software’s link to brokerage houses. The problem is an issue with the protocol over the connection. There is a certain type of connection with connect spooz's office to the intranet of 180 brokerage houses. The problem lies in the way the houses talk with each other, which is hampering Prop houses ability to trade with the speed they should be. That is about as far and as in depth as he got. I am sure someone more familiar with this type of network could elaborate or draw conclusions from this.
CME is the Chicago Merchantile Exchange. Spooz used to have an office at the Merc until they moved too Lassalle.
They are located where they are because the area is a mecca for commodities, futures and option trading. Many many many brokerage houses all within a 5 min walk. The CME is right down the street, so they can be in easy communication... programmers can move from place to place easily.
What spooz is doing is eliminating the need to have a Programmer sitting next to the trading incase something needs to be tweeks, Spooz eliminates this need by using excel to run the trading algorithms. There are many different modules of spooz that can be added into the product which allows the subscriber to connect to whichever brokerage house specializes in the certain Symbol he wants to trade.
Spooz basically normalizes the bid ask price between stocks and allows you to basically take two symbols and trade them. like trading the S&P and the Nasd.
This would only be possibly with fulltime programmers on hand.
