首页> 中文期刊> 《通信技术 》 >传输电路时延对金融证券交易的影响*--以大连-上海的电路情况为例

传输电路时延对金融证券交易的影响*--以大连-上海的电路情况为例

             

摘要

Quantitative and high-frequency trading of securities now becomes one of the main investment means in the field of asset management. The very important characteristic of quantitative and high-frequency trading is the high standard for transmission speed. As for the domestic transmission network, the millisecond-level transmission latency change of the quantization transaction is the bottleneck in restricting the transaction success rate and the profit level. Based on the guantitative study of the actual physical time-delay for the users’ entire transmission journey through routing equipment and circuit of Dalian Commercial Exchange, it is found that the length of transmission circuit is the main factor affecting the transmission delay. By changing physical route of the transmission circuit and shortening the physical length of the transmission line, the transmission circuit delay could be effectively reduced. All this is of instructive significance to the selection of routing or the construction of telecom operators when the customers of leased circuits are sensitive to delay index.%目前,证券量化交易和高频交易已经成为资产管理领域主要的投资手段之一。量化交易和高频交易的特点之一,就是对交易速度有极高的要求。就国内范围的传送网络而言,量化交易传输电路毫秒级的时延变化,成为制约交易成功率和盈利水平的瓶颈。通过对大连商交所用户实际开放传输电路所经过的全程路由设备和线路的物理时延进行量化研究,发现传输电路的物理长度是影响传输电路时延的主要因素,并通过改变传输电路物理路由缩短传输电路物理长度的方法,有效缩短了传输电路时延。这对时延指标敏感客户租用电路时的选择路由或电信运营商的网络建设具有指导意义。

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