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I owned the "broker FTP" service at a hedge fund. There was a project in 2021 to talk to the banks and brokers that we connected and ask them to upgrade their
by alexpotato 8d ago
I owned the "broker FTP" service at a hedge fund.
There was a project in 2021 to talk to the banks and brokers that we connected and ask them to upgrade their keys and ciphers to modern versions.
IIRC, the oldest key/cipher was from the late 2000s so it wouldn't surprise me if someone is using RSA keys from the 90s somewhere.
You can read more about how hedge funds use FTP here:
https://x.com/alexpotato/status/1809579426687983657?s=20 https://x.com/alexpotato/status/1809579426687983657?s=20
Or listen to patio11 and I talk about these systems in general here:
https://www.complexsystemspodcast.com/episodes/two-banks-cant-agree-on-fourth-grade-math/ https://www.complexsystemspodcast.com/episodes/two-banks-can...
- nly 8d agoI used to work on market data feeds, which occasionally require a reference data file from an FTP to be delivered before market open before you can do anything useful with the feed. Nothing like being on-call when the file doesn't get delivered, or fails to parse Fortunately most feeds deliver reference data inband these days
- alexpotato 7d agoA lot of this is also moving to SWIFT (as in banking system) messages. I guess in some ways this is better but SWIFT is famously a giant pain in the ass to install and support.