Chris Hawley, Morgan Stanley
Electronic trading systems are inherently complex and operate within narrow, high-stakes time windows, making their availability critical. Despite employing various resiliency patterns, these systems remain vulnerable to tail risks that could lead to widespread failures with significant consequences.
This presentation will explore real-world examples to uncover the nature of these risks, examine the limitations of common resiliency strategies, and discuss alternative approaches to enhance system robustness and reliability.
Chris Hawley is an Executive Director at Morgan Stanley in Institutional Securities Technology. He is a technical lead in the Listed Sales & Trading department.
Chris is a product owner within Site Reliability Engineering for the firm's global order management and electronic trading technology, supporting the Institutional Equity Division and has worked at various levels building these systems. He joined the firm in 2007 after earning an MEng in Computer Systems Engineering from the University of Warwick.
Chris lives in London with his wife, and spends his spare time exploring the world through his camera and, depending on the weather, running and skiing.
author = {Chris Hawley},
title = {Mitigating Against Large Scale Systemic Failures in {E-Trading}},
year = {2025},
address = {Santa Clara, CA},
publisher = {USENIX Association},
month = mar
}