https://ternqed.com/resources/ Recent content in External Resources on TernQED Hugo -- 0.156.0 en-us Sat, 21 Feb 2026 00:00:00 +0000 https://ternqed.com/resources/papers/ Sat, 21 Feb 2026 00:00:00 +0000 https://ternqed.com/resources/papers/ <h1 id="academic-papers-on-latency--market-microstructure">Academic Papers on Latency &amp; Market Microstructure</h1> <p>Key research papers exploring how latency affects market outcomes.</p> <hr> <h2 id="foundational-papers">Foundational Papers</h2> <h3 id="the-high-frequency-trading-arms-race"><a href="https://conference.nber.org/confer/2013/MDf13/Budish_Cramton_Shim.pdf">The High-Frequency Trading Arms Race</a></h3> <p><strong>Budish, Cramton, Shim (2015)</strong> - Quarterly Journal of Economics</p> <p>Shows how speed competition creates socially wasteful arms race. Proposes frequent batch auctions as alternative.</p> <p><strong>Key finding:</strong> 1 microsecond advantage → $75,000/year profit for single symbol <strong>Mechanism:</strong> Queue priority capture</p> <hr> <h3 id="the-flash-crash-high-frequency-trading-in-an-electronic-market"><a href="https://www.cftc.gov/sites/default/files/idc/groups/public/@economicanalysis/documents/file/oce_flashcrash0314.pdf">The Flash Crash: High-Frequency Trading in an Electronic Market</a></h3> <p><strong>CFTC-SEC Report (2010)</strong></p> https://ternqed.com/resources/articles/ Sat, 21 Feb 2026 00:00:00 +0000 https://ternqed.com/resources/articles/ <h1 id="industry-articles--blog-posts">Industry Articles &amp; Blog Posts</h1> <p>Practitioner perspectives on latency, trading infrastructure, and market microstructure.</p> <hr> <h2 id="exchange-engineering">Exchange Engineering</h2> <h3 id="coinbase-building-a-real-time-trading-engine"><a href="https://blog.coinbase.com/">Coinbase: Building a Real-Time Trading Engine</a></h3> <p>Deep dives on matching engine architecture, latency optimization, and infrastructure.</p> <h3 id="binance-technology-behind-high-performance-trading"><a href="https://www.binance.com/en/blog">Binance: Technology Behind High-Performance Trading</a></h3> <p>Engineering posts on handling millions of trades/second.</p> <h3 id="jane-street-ocaml-and-low-latency-systems"><a href="https://blog.janestreet.com/">Jane Street: OCaml and Low-Latency Systems</a></h3> <p>Functional programming approaches to trading systems.</p> <hr> <h2 id="infrastructure--networks">Infrastructure &amp; Networks</h2> <h3 id="beeks-group-low-latency-infrastructure"><a href="https://beeksgroup.com/">Beeks Group: Low-Latency Infrastructure</a></h3> <p>Proximity hosting, network paths, and latency measurement.</p> https://ternqed.com/resources/videos/ Sat, 21 Feb 2026 00:00:00 +0000 https://ternqed.com/resources/videos/ <h1 id="videos--conference-talks">Videos &amp; Conference Talks</h1> <p>Presentations on latency, HFT, and market microstructure.</p> <hr> <h2 id="academic-talks">Academic Talks</h2> <h3 id="eric-budish-the-high-frequency-trading-arms-race"><a href="https://www.youtube.com/watch?v=0iomaB9u2L8">Eric Budish: The High-Frequency Trading Arms Race</a></h3> <p><strong>Chicago Booth, 2015</strong></p> <p>The paper that changed how economists think about latency competition. Explains why speed races are wasteful and proposes frequent batch auctions.</p> <p><strong>Key insight:</strong> Competition for queue priority creates negative-sum game</p> <hr> <h3 id="maureen-o"><a href="https://www.youtube.com/results?search_query=maureen+o%27hara+market+microstructure">Maureen O&rsquo;Hara: Market Microstructure in Practice</a></h3> <p><strong>Various conferences</strong></p> <p>Overview of how market structure affects price discovery and liquidity.</p> https://ternqed.com/resources/discussions/ Sat, 21 Feb 2026 00:00:00 +0000 https://ternqed.com/resources/discussions/ <h1 id="online-discussions--communities">Online Discussions &amp; Communities</h1> <p>Where practitioners discuss latency, trading infrastructure, and market microstructure.</p> <hr> <h2 id="twitterx">Twitter/X</h2> <h3 id="key-accounts-to-follow">Key Accounts to Follow:</h3> <p><strong>Researchers:</strong></p> <ul> <li><a href="https://twitter.com/ericbudish">@ericbudish</a> - HFT arms race research</li> <li><a href="https://twitter.com/matt_levine">@matt_levine</a> - Bloomberg columnist on markets</li> <li><a href="https://twitter.com/riskReversal">@riskReversal</a> - Market structure commentary</li> </ul> <p><strong>Crypto/MEV:</strong></p> <ul> <li><a href="https://twitter.com/hasufl">@hasufl</a> - MEV research</li> <li><a href="https://twitter.com/bertcmiller">@bertcmiller</a> - Flashbots</li> <li><a href="https://twitter.com/gakonst">@gakonst</a> - Paradigm research</li> </ul> <p><strong>Infrastructure:</strong></p> <ul> <li>Various exchange engineering teams</li> <li>Trading firm tech accounts</li> </ul> <hr> <h2 id="reddit">Reddit</h2> <h3 id="ralgotrading"><a href="https://reddit.com/r/algotrading">r/algotrading</a></h3> <p>Algorithmic trading discussion including latency optimization.</p> <h3 id="rquant"><a href="https://reddit.com/r/quant">r/quant</a></h3> <p>Quantitative finance including market microstructure.</p>