Hickling claims no scientific rigor, but he had a method for selecting Github repositories from his sample of 35 repositories: he first looked at repositories popular with algo traders and quants; then he used stars to determine which other rests were popular; then he ranked them by popularity.
However, Python still dominates and C++ is still considered the gold standard when it comes to trading programs. “With Python, if you have an idea, you can just sit down and test it in a matter of minutes,” says Hickling. “But for very large projects, Python doesn’t have much of an advantage because on a large scale, you have to put a lot of controls on your architecture that get cumbersome with Python.”
The problem with C++ is always that it’s very hard to write, says Hickling. “It takes a lot more effort than Python. The value of C++ is that it is both expressive and high performance_. There are few languages that rival it in this way.” For this reason, Hickling says you don’t approach a C++ project without a lot of thought and sufficient resources.
A senior banking technologist says it won’t spill over into traditional finance. “I’ve heard of people using Node.js for the whole back-end trading platform as smaller places, but it’s just not good enough for front-office applications” , he said. “I would be amazed if anyone uses it for latency-sensitive algorithms.”
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