Does Java Own Wall Street Technology?
This article from Yakov Fain over at java.sys-con.com would surely have you believe so, although it’s hard for me to tell when it was written (2005?).
I am not so convinced, nor have I ever been, about Java in general, and especially in the financial world. I have seen it make huge inroads, but I have always felt it could be outperformed by a well designed and implemented application using C++ or even C#/.NET. To this day I manage to ruffle many feathers with such prognostications, but I stand by them not on principal, but on what I believe is the merit of the argument.
For instance:
If, back in the ’90s, you’d suggested using Java for processing split-second stock market orders, most of the New York programmers would just simply say: “faggedaboudid.” If you want to have some fun, read old articles on using Java for Wall Street applications. Here are some statements made a long time ago in 1997:
- Java is strong on the front end, but we do not foresee it being used for very large number-crunching applications.
- Java is fine only for very thin clients.
Well I will concede that Java has made its way into large number-crunching applications, but I believe that has more to do with advances in processor and memory architectures than it does with Java, or any supposed inanate ability for it to handle numerical problems.
As far as Java being used for real-time fat clients, show me the money. I have personally built my fair share of real-time equities trading platforms and there was never even the slightest fantasy of using Java. In large or even small scale trading environments, nearly 99.9% of the desktop platforms are going to be Windows based, so its “write once, run anywhere” potential is already useless out of the gate. Factor in that it’s at a great disadvantage when it comes to front-end performance (graphics, painting, look and feel) when compared to native Win32 based libraries (MFC, VB, and more appropriately Windows Forms) and it’s clear that Java does not belong as an ingredient of a real-time front end trading platform. Reality further proves this out when you consider that the vast majority of such systems currently being built on Wall Street are being done with .NET and Windows Forms.
Extending out the argument further, if .NET is such a clear winner on the front end, then why even bother with the hassle of mating a .NET front end to a Java based back-end system when implementing real-time trading platforms? Every system that I have worked on has been built on this model, despite my pleading. In the end, you have to work harder to build data type and message type mappings between a .NET front end and the Java processes that sit on the back-end. From a code maintanence perspective alone, a full .NET solution makes a lot more sense, especially when you acknowledge that Java has no significant advantage over .NET on the back-end either.
And in closing, I wanted to change gears and point out another suspect observation made by the Yakov, who I’m sorry to be picking on today:
Some heavy-duty Java gurus try to stay away from business applications, believing that the real fun coding is in companies that develop compilers, browsers, search engines, application servers, and the like. Trust me, these IT guys on Wall Street are not counting crows either. What’s even more important for real geeks, you can work for a solid financial company and have as many earrings as you’d like, a long ponytail, grow a beard, and wear T-shirts and jeans. Wall Street welcomes the James Gosling look and feel!
I don’t know any firm on Wall Steet that welcomes the James Gosling look and feel, and I’ve worked at some pretty relaxed financial firms. Maybe like Mr. Fain’s observations on Java and it’s grip on Wall Street, this too is fantasy?
I am not sure that I agree with you here, although my feathers feel unruffled…
I think some of the comparison you are drawing is not between languages per se, but frameworks; GUI is good for .NET, service-side is good for java.
Also, I think it is interesting to debate whether “performance” is more usefully measured in ms/operation or time to deliver the app.
blogs.azulsystems.com/peter/2006/08/what_does_java_.html
As for the James Gosling part, I agree there, but I still think it’s a shame
[…] Peter Holditch, a Senior Systems Engineer over at Azul Systems, recently responded to a post I made which took issue with Java’s place within the financial technical landscape. Peter made some interesting points (which I’ll get to in a moment). However he also made some rebuttals to my post that I think are quite off the mark. Let’s tackle them first, and we’ll leave the parts about where we agree for last, so we can end on a shiney, happy note Reading Benjamin’s article, I am guessing that he is rather attached to Microsoft technology (although he does mention C++ too) and thus is not overly keen on java, being from “the other side”. Never being particularly prone to bouts of technology religion (although, for full disclosure, I have been working on UNIX for 16 years, and java for 10) I read his assault on java with some degree of detachment. […]
Sorry to be a bit late in responding, I just made a full post to address the points you made here and on your blog.
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