"American financial markets move in milliseconds, but the infrastructure underneath them still depends on traders picking up phones, brokers brokering deals by hand, and platforms running on technology that has not meaningfully modernized in decades."
"Sangjun Yum, a 34-year-old senior software engineer at crypto prime brokerage FalconX, has spent the better part of a decade watching that contradiction play out up close."
"I began thinking it can't be only the finance people being shocked by this. There must be some kind of engineer who can actually come up with some kind of tooling to predict the crash."
"By the time he reached college, Yum had already identified himself as a conservative investor, drawn to structured notes and market-linked CDs: instruments designed for capital protection and steady, defined returns."
American financial markets operate at high speeds, yet their underlying infrastructure remains outdated, relying on traditional methods like phone calls and manual brokering. Sangjun Yum, a senior software engineer at FalconX, has observed this digitization gap throughout his career. His interest in finance was sparked by the 2008 housing crisis, leading him to believe that engineers could create tools to predict market crashes. This perspective has shaped his career and fostered skepticism about Wall Street's technological integration.
Read at The Village Voice
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