On July 7, 2023, under the guidance of the Integrated Circuit Design Committee of the China Computer Society, the New Generation Computing Standards Working Committee of the China Electronics Industry Standardization Technology Association, and the WG1 Working Group of the Securities Fund Information Technology Innovation Alliance, it was hosted by Zhongke Yushu The first Securities Fund Industry Advanced Computing Summit in 2023 was successfully held in Shanghai.
This advanced summit brings together guest representatives from securities institutions, fund companies, ISVs and other enterprises to discuss topics on the same stage, focusing on the actual technology status, current key issues, and customer production scenarios, aiming to create an industry centered around information technology innovation in the securities fund industry. The forum promotes the integration of underlying technologies and upper-layer applications, displays more advanced industry best practices, and jointly discusses the industry's advanced computing infrastructure ecology.
Yan Guihai, founder and CEO of Zhongke Yushu, said in his speech that as new infrastructure has risen to a national strategic level, the application of new generation information technology is pushing the development of financial technology to a new stage of development. "Advanced computing" represents the development direction of our IT technology. We hope that all manufacturers in the domestic ecosystem, whether chips, software, hardware, or applications, can form a value symbiosis, master core technologies through joint efforts, and dominate and lead financial IT. Iterative development of infrastructure.
Yan Guihai, founder and CEO of Zhongke Yushu
Zhang Yu, senior vice president of Zhongke Yushu, delivered a keynote speech entitled "Computing power is intelligence, the road to building an advanced computing power base for the financial and securities industry." As a carrier for the operation of information systems in various industries, computing power facilities have become an indispensable key infrastructure for economic and social operations and play a vital role in the development of the digital economy. The financial industry has gradually moved towards a more real-time, smarter and more efficient development path. Building a heterogeneous computing power base based on CPU+GPU+DPU+FPGA has become the focus of competition in the development and reform of financial trading systems. It is also an important step in building technical barriers to the industry and achieving success. The cornerstone of core competitive advantage. Based on the powerful DPU chip bottom layer and HADOS software development platform, Zhongke Yushu focuses on low-latency and high-throughput scenarios and has created a complete DPU product system. Through years of polishing, iteration and application practice, Zhongke Yushu has become a comprehensive product and solution provider for China's financial heterogeneous computing power base.
Zhang Yu, Senior Vice President of Zhongke Yushu
Jin Guojie, assistant to the president of Loongson Zhongke, delivered a keynote speech titled "Practice of Independent Chip Computing Power Base in the Securities Field". After years of development, starting in 2018, the domestic advanced computing industry has formed an information technology industry chain pattern from scratch with domestic software and hardware manufacturers as the core, which is widely used in various industries of general informatization and industrial interconnection. Focusing on the business characteristics of the financial industry, Loongson Zhongke has created a series of Loongson products based on the two main lines of information systems and industrial control systems to lay out the industrial ecology. It covers an independent innovation support system from the underlying architecture, cloud platform to special solutions, and has gained wide recognition in the financial industry. Application, more than 40 domestic financial institutions have adopted the Loongson architecture to conduct business.
Jin Guojie, Assistant to the President of Loongson Zhongke
Zhong Guiquan, senior vice president of Jinzheng Co., Ltd., delivered a keynote speech entitled "Sharing of Securities Intelligent Trading Practices Based on Domestic Bases". The securities industry has entered into a high-quality development stage through the "triad" of business transformation + technological upgrading + credit innovation promotion. The industry urgently needs to conduct in-depth performance research on servers, switches, network cards, operating systems, compilers and accelerators, solve the weaknesses of Xinchuang's software and hardware, and continue to deepen the localization of the technology base. Focusing on storage optimization and ultra-low latency bus, Jinzheng Technology Co., Ltd. has recently launched the extremely fast trading system 3.5 platform, which integrates the hardware and software heterogeneous acceleration technology of Zhongke Yushu’s ultra-low latency DPU card KPU2200N. The transparency delay is reduced to less than 3 microseconds, which significantly improves the concurrency of the strategy algorithm in the trading service center and promotes the performance improvement of the entire trading system.
Zhong Guiquan, Senior Vice President of Jinzheng Co., Ltd.
Song Xiaoguang, head of the self-operated business R&D center of Huatai Securities Information Technology Department, delivered a keynote speech titled "Practice of Risk Control Solutions Based on Heterogeneous Acceleration". In the context of changes in securities trading, risk control is regarded as the core and most important part of trading. In order to cope with the complexity of risk control calculation rules and extreme latency requirements, Huatai Securities has gradually evolved and iterated a horizontal, vertical, and three-dimensional multi-level risk control system. Empowered by Zhongke Yushu's heterogeneous computing technology, we explore risk control solutions based on heterogeneous acceleration, integrate heterogeneous software and hardware by promoting software definition, and abstract risk control into a more standard business model. And through these models, business indicators, budget rules, etc. are split into corresponding combinations of indicators and logic, enabling heterogeneous risk control in various heterogeneous trading systems, thereby improving the efficiency of risk control and achieving performance and reliability. The dual goals of sex.
Song Xiaoguang, head of the self-operated business R&D center of Huatai Securities Information Technology Department
Guo Wei, Vice President of Tianshu Zhixin, delivered a keynote speech entitled "Domestic General-Purpose GPU Financial Industry Solution Practice". Currently, more than 70% of the world's financial transactions are conducted through computers or programs. Quantitative trading is a typical application scenario in the financial securities industry, so typical algorithms of general computing and artificial intelligence are also widely used. For example, when the financial industry deals with available invisible private data, it involves big data acceleration algorithms for general computing. These algorithms can accelerate read and write operations on formatted and unformatted data, and can achieve low latency and high efficiency when using a data processing unit (DPU). In addition, with the support of DPU, the communication between the entire computing nodes can also achieve high-speed integration. By optimizing these algorithms and technologies, the efficiency and speed of data processing can be improved in the financial industry.
Guo Wei, Vice President of Tianshu Zhixin
The "Development Trends and Prospects of Advanced Computing Power Base in the Securities Fund Industry" roundtable forum held in the morning of the meeting was chaired by Zhang Yu, Senior Vice President of Zhongke Yushu, with Jin Guojie from Loongson Zhongke, Song Xiaoguang from Huatai Securities, Guo Wei from Tianshu Zhixin, and Yu from Hundsheng Electronics Haohao jointly participated in the discussion, focusing on artificial intelligence, large models, cloud native, ultra-low latency to ultra-high performance heterogeneous computing power, to jointly discuss how to promote the innovation and application of computing power base in the field of securities funds and respond to industry challenges and opportunities. .
The scene of the roundtable forum "Development Trends and Prospects of Advanced Computing Power Base in the Securities Fund Industry"
Liu Yao, SVP of the Information Technology Department of CITIC Securities Securities, delivered a keynote speech titled "FPGA Accelerated Evolution of High-Frequency Trading Computer Systems (Strategy Side)". The evolution of FPGA acceleration technology includes the improvement of bandwidth, the increase of large-capacity RAM resources, the application of CXL technology, and the implementation of AI acceleration. These technical directions will be the technical base for the widespread application and further performance improvement of FPGA accelerators in high-frequency trading scenarios. In his view, any optimization beyond the bottleneck is futile. After the delay of a certain FPGA product reaches 1us, it no longer pursues ultimate latency, but functional differentiation. The final product form may develop into full hardware implementation of the critical path, software monitoring, statistics and control. Since this is a zero-sum game, the top players will be armed to the end.
Liu Yao, SVP of Information Technology Department of CITIC Securities
Duan Chenglin, head of the high-speed trading technology line of Everbright Securities, delivered a keynote speech titled "Exploration of Cloud Platform Driven by Low Latency Technology". Everbright Securities Extreme Cloud aims to provide integrated solutions for big C and small B customers to reduce basic operation and maintenance costs. At the same time, we pursue high performance, close to the level of ordinary hosting equipment, and meet latency requirements. In order to solve the problems existing in the traditional cloud, Everbright Securities and Zhongke Yushu jointly researched and proposed a solution that combines software and hardware. Zhongke Yushu KPU SWIFT 2200N ultra-low latency DPU card is used as hardware support and HADOS is introduced as software support. In the end, significant efficiency improvements were achieved, with communication efficiency increased by 4-5 times. Compared with traditional clouds, just adding a low-latency DPU card can significantly improve communication latency, the hardware cost is controllable, and the management model and methods are basically the same as traditional cloud platforms.
Duan Chenglin, head of the high-speed trading technology line of Everbright Securities
Yuan Xiaofei, general manager of Zhongke Yushu Hardware R&D Department, delivered a keynote speech titled "Sharing and Practice of Core Technology of SWIFT-2200N Low Latency Network Card and NDPP Low Latency Application Development Platform". Low-latency networks are an important requirement in the financial industry. Many scenarios, such as the interception and judgment of real-time risk control, securities trading processes, especially high-frequency trading, and large-scale and highly concurrent strategy analysis, all have significant low-latency requirements. Zhongke Yushu's KPU SWIFT 2200N low-latency DPU card and NDPP computing development platform NDPP, combined with the HADOS software stack, adopt a software-hardware collaborative heterogeneous acceleration solution, which is an important computing device that emerged as the times require. In addition to providing extremely low communication latency, the platform also has flexible expansion and stable and reliable functions, which can promote the construction of the fastest transaction link in the financial field, perform significantly in extremely high-speed trading scenarios, and effectively reduce the cost of stock exchanges, brokers and The delay in the transaction link of asset management institutions helps asset management institutions achieve extremely fast transactions and revenue growth.
Yuan Xiaofei, General Manager of Zhongke Yushu Hardware R&D Department
Wang Xijiao, product manager of Orient Securities' high-speed trading system, delivered a keynote speech titled "Technology Empowers Quantitative Trading." With the iterative innovation of technologies such as artificial intelligence, blockchain, cloud computing and big data, technological power has become the most effective weapon in quantitative trading, and the proportion of private quantitative funds is increasing year by year. The OST high-speed trading system independently developed by Orient Securities and Orient Securities Futures includes the OST trading system, FPGA market quotations and Oriental Swift client. OST has a securities version and a futures version. The securities version supports trading businesses such as stocks, margin trading, convertible bonds, ETF subscriptions and redemptions, and stock options. The futures version supports the Shanghai Futures Exchange, Dalian Commodity Exchange, Energy Center, China Financial Futures Exchange, and Zhengzhou Commodity Exchange. Futures and options trading business of the Exchange and Guangzhou Futures Exchange. Orient Securities is committed to building a technology platform that serves multi-level institutional transactions to better meet the needs of institutional customers at different levels.
Wang Xijiao, product manager of Oriental Securities’ high-speed trading system
Yu Wei, core architect of Oriental Fortune Securities, delivered a keynote speech entitled "FPGA Application Demonstration for Financial Derivatives Index Calculation". Rapid pricing of American options is a complex problem. The average annual trading volume of the OTC derivatives market in the financial world is increasing year by year. The calculation of derivatives index has given rise to the demand for heterogeneous computing. Heterogeneous computing architecture is also considered to be a new opportunity in the post-Moore era. Heterogeneous architecture innovation provides business A new platform has been developed based on FPGA to achieve high-dimensional American option pricing acceleration, which has both low latency and high energy efficiency. It can streamline storage paths, eliminate bandwidth limitations, increase pricing speed, and reduce energy consumption.
Yu Wei, core architect of Oriental Fortune Securities
Zhou Weicheng, the technical leader of Lingjun Extreme Trading System, delivered a keynote speech titled "A Little Dark Cloud Over the Low-Latency Trading Field: Fragile Software Delivery". In just two or three years, the private equity industry has developed rapidly, and many institutions have achieved tens of billions or even hundreds of billions in scale. In this rapidly developing environment, team collaboration and software delivery speed are extremely demanding. In the quantitative trading and quantitative private equity that Lingjun is engaged in, the top level of the workflow is product returns and risks. When reaching the software layer step by step, the most important indicator is rapid delivery, and automation becomes the key. A manual deployment may take several seconds, while automation only takes 0.01 seconds. The speed gap is huge. Only fast and reliable software delivery can achieve high-quality services.
Zhou Weicheng, technical director of Lingjun Speedy Trading System
Yu Haohao, Director of the Product Management Department of Hang Seng Electronics' Institutional Business Headquarters, delivered a keynote speech titled "Sharing Practical Experience in Speedy Trading and Innovation". He introduced that Hang Seng LDP is a new generation of low-latency, distributed, and highly available technology platform that provides products and solutions such as extremely fast transactions, extremely fast market prices, and extremely fast risk control for various business areas of financial institutions. The LDP platform has the advantages of low latency, large capacity, high availability, distribution and independent controllability. It has been fully adapted to Xinchuang's low-latency hardware and provides basic acceleration software packages and application acceleration software packages through full-stack optimization to realize business applications. ultimate performance. The test data of the LDP ultra-fast transaction Xinchuang solution shows that in terms of delegation concurrency performance, LDP has improved performance by about 6-10% compared to the original solution.
Yu Haohao, Director of Product Management Department of Hang Seng Electronics Institutional Business Headquarters
Information technology innovation in the securities and financial industry is continuously being strengthened and iterated in terms of depth and breadth. The roundtable forum "Technical Practice and Challenges of Heterogeneous Computing Comprehensively Empowering Extremely Fast Trading Systems" hosted by Yuan Xiaofei, General Manager of Zhongke Yushu Hardware R&D Department, was held in the afternoon session. Liu Yao of CITIC Construction Investment, Duan Chenglin of Everbright Securities, Yu Wei of Oriental Fortune Securities, and Zhou Weicheng of Lingjun participated in the discussion to discuss the powerful computing power and performance optimization opportunities provided by heterogeneous computing for ultra-fast trading systems, and combined their respective application scenarios and business practices Export valuable insights.
"Technical Practice and Challenges of Heterogeneous Computing Comprehensively Empowering Extremely Fast Trading Systems" Roundtable Forum Site
In the past five years, the domestic securities fund and asset management industry has experienced rapid development. At the same time, the international competition landscape is also changing rapidly, which can be described as turbulent. Over the years, many profound changes have taken place in the industry, among which quantitative trading has become an important part of the business, contributing 20% of the overall trading volume. Earth-shaking changes have also taken place in the direction of technology, from large artificial intelligence models to cloud-native operating systems, to the construction of ultra-low latency, ultra-high-performance distributed computing power bases. These have become industries under the trend of digitalization and intelligence. key to system evolution. These changes are not only trends in industry digitization, but also necessary guarantees for business success.
In the future, Zhongke Yushu will continue to promote technological innovation and industry changes, conduct extensive cooperation and exchanges with manufacturers on the application side and technology side of the industry, jointly explore new ideas and solutions, and make better contributions to the digital transformation of the securities fund industry. We will make great contributions and jointly move towards the era of high-quality development of China’s financial industry.