What is HUBB?HUBB is the ideal tool for developing fully automated trading systems because it offers high performance, direct market access. Its unique network-layer messaging protocol specifies market data delivery and order submission to all the domestic Equity Exchanges and destinations, including the NYSE, NASDAQ stock market and Bloomberg Trade Book. HUBB is completely platform agnostic and can be used on all major operating systems and programming languages. Register with us to see examples of HUBB messages, read the protocol’s specification and download the company’s complete historic market data in CSV format.
What are the HUBB Protocols?HUBB::Simulator Guide – Provides information on connectivity and the order entry port of our full-featured simulator.
Why Choose HUBB Over FIX?HUBB is the smarter choice. Why? It simplifies. FIX typically requires integration of open-source libraries that must be optimized to break their forward's compatibility and upgradeability. HUBB is optimized internally so that details are hidden from the end user, making the code simple, fast and stable.
HUBB messages are simply framed – each one is delimited by a newline character and each field therein is delimited by a space character. Working with this format requires less code, which means better performance and better results.
FIX employs a tag-based protocol that forces a developer to treat every message differently. This creates a large error-handling overhead and complex message handling code. FIX was conceived in 1992 as a bilateral communications framework for equity trading between Fidelity Investments and Salomon Brothers. Its goal was to handle pre and post trade transactions; it was not intended to handle the throughput currently produced in today's modern electronic markets.
Finally, HUBB uses a simple version control scheme that allows the protocol to be upgraded without impacting the existing code. If a FIX tag changes, it may have to be modified to prevent failure. Using HUBB support for new versions can be implemented on an as-needed basis.
What latency should be expected from HUBB?HUBB provides high-performance integration to the marketplace, measuring in single-digit milliseconds on average per order entry. We are continuously seeking new ways to trim milliseconds and minimize latency.
What venues are available for order flow?HUBB users have access to all major liquidity pools: NASDAQ, NYSE, BTRD, BATS, ARCA, EDGX, EDGA and AMEX.
What market data feeds are available through HUBB?NASDAQ: NQDS, UTDF, UQDF, ITCH 3.0
What asset classes does HUBB support?HUBB currently supports equities.
Does HUBB handle millisecond time stamps?Yes. It’s supported by the venues INET and ARCA. It will also need to revise this item based upon the mergers discussed above.
Can HUBB scale with increasing market volume?Yes. The internal HUBB system is completely componentized, with each component handling a very specific job. If the demand is raised on any one piece of the system, that piece can be duplicated to help handle the load.
Does HUBB dictate a specific strategy implementation?No. Additional HUBB ports can be purchased, allowing for almost any design or implementation. Please call if you have a specific question.
How is fault tolerance architected within HUBB?Fault tolerance is handled in an appropriate manner within each component or layer of the system. Market data is completely stateless and independent of its original server. Any consumer of this data can seamlessly switch between market data servers. There is also a procedure that allows the black box to resume trading in the unlikely event of a HUBB order entry component failure.
What programming languages and operating systems does HUBB support?HUBB is a protocol for passing data across a network, so the programming language and operating system you use is up to your development staff.
Are any supplementary tools provided to HUBB customers?SchonEx, Schonfeld's proprietary trading software, is available at no additional charge. It can be used for real-time risk monitoring and risk management in the event of a black box failure.
What is the typical implementation period for a trading strategy?HUBB is designed to minimize time-to-live for your solution, letting the development staff focus on a given strategy. Implementation times can vary, but ideally, only a small percentage of that time will be dealing with the protocol. HUBB Solutions works with its customers every step of the way to help ensure success.
Where are HUBB systems hosted?HUBB systems are
co-located with NASDAQ’s primary datacenter in New Jersey.
Pricing is determined by the number of units of rack space used. Bills are distributed monthly. Please call us for a quote.