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Pure Trading, the first alternative trading system in Canada to offer a fully electronic continuous auction market, has appointed Transaction Network Services to provide connectivity via its fully managed Secure Trading Extranet. Transaction Network Services is working with Pure Trading to facilitate high capacity, low latency and cost effective connections with new and existing customers. In addition to providing Pure Trading with connectivity, the link to TNS will allow access to TNS’ extensive financial community of interest.

TNS News Release

Technorati Tags: Pure Trading, Transaction Network Services, alternative trading system

GL Trade’s GL Connect ASP Liffe hosted service will soon be connected to the LIFFE Connect trading system via NYSE Euronext Liffe’s new 100Mbps High Speed Access. The GL Connect Liffe ASP service is now entirely run on Linux systems to provide clients with increased levels of performance and greatly reduced latency, it is claimed. With resilience for market data and ASP trading provided via multiple-site connectivity, GL Trade is now in process of migrating to Liffe’s new 100Mbps offering to offer its clients the best trading infrastructure, it says.

GL Trade News Release

Technorati Tags: GL Trade, GL Connect ASP Liffe, NYSE Euronext Liffe, Linux

Interdealer broker ICAP has completed the most recent phase of enhancements to its EBS Spot FX electronic trading platform. These enhancements improve functionality, increase the frequency of market view updates and speed of data delivery, and provide greater order book transparency for all EBS customers, it says. The first step in the upgrade of the EBS platform involved a network and hardware upgrade to Linux which has contributed to a 75 per cent improvement in global average deal times since January 2007. Intra-regional deals, for example London-London or New York-New York, are on average now completed in 5-8 milliseconds.

ICAP has recently reduced the price distribution interval (time slicing) on the EBS platform by 50 per cent to 500 milliseconds for all EBS customers. Customers of EBS Live, the premium EBS FX market data feed, have also seen price update frequency increased to once every 250 milliseconds, up from once every 500 milliseconds. Latency on EBS Live data transmission has been reduced from 95 milliseconds to 5 milliseconds since Q1 2007, it claims.

ICAP News Release

Technorati Tags: ICAP, EBS Spot FX electronic trading platform, Linux

PrismTech, provider of high-performance middleware and development tools, will host a webinar on how OpenSplice DDS can address the challenges faced by financial trading applications due to the exponential growth in message rates and the continual quest to reduce trading latencies. The webinar will explore how middleware infrastructures enabling next-generation financial applications must handle several million messages per second, minimise delivery latencies and jitter, and maintain overall system stability and reliability. The webinar will be held on February 20 2008 from 9.00am to 10.00am US ET and will be repeated again at 2.00pm to 3.00pm US ET.

PrismTech News Release

Technorati Tags: PrismTech, OpenSplice DDS, high-performance middleware

Nomura subsidiary Instinet has formed Chi-X Global, a holding company for the operations of Chi-X platforms in Europe, Canada and the Asia-Pacific region (Electronic Trading, Asia Markets IT, 8 February 2008). Additionally, Instinet intends to launch Chi-X Australia, an alternative trading system (ATS) based on the same technology and pricing model as Chi-X Europe and the soon-to-launch Chi-X Canada. Once live, Chi-X Australia, like Chi-X Europe and Chi-X Canada, will be designed to provide market participants with low cost trading through its high-capacity and low latency technology, innovative pricing structure and open, FIX (Financial Information eXchange) protocol-based architecture.

Instinet News Release

Technorati Tags: Instinet, Nomura, Chi-X Global, Chi-X Australia, Chi-X Europe, Chi-X Canada, FIX protocol

From RTI …

Increases in data volumes over the past few years have stretched current financial information backbones, resetting the technology challenges in a way that demands a new approach.
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UniCredit Group’s Markets & Investment Banking Division has implemented Tibco Rendezvous as the low latency messaging platform underpinning its European Index Arbitrage Trading business. Employing complex high frequency trading strategies, the European Index Arbitrage Trading Group takes advantage of temporary discrepancies between the prices of securities comprising an index and the price of a futures contract on that index. Rendezvous has been implemented for low latency and scalable distribution of market and pricing data between the program trading systems underpinning the business’ strategy.

Technorati Tags: UniCredit Markets & Investment Banking, Tibco, Tibco Rendezvous, high frequency trading, program trading

Wombat Financial Software, the market data technology specialist recently acquired by NYSE Euronext, has launched a real-time conflation solution, Wombat Traffic Control. The solution, which has been developed in conjunction with a number of the firm’s customers during the past six months, is designed to control the volume of data published to downstream trading applications. This should help minimise the impact of market data volume increases and surges in quote volumes, the vendor contends.

Wombat News Release

Technorati Tags: Wombat Financial Software, NYSE Euronext, Wombat Traffic Control, real-time conflation,

StreamBase Systems has released the latest version of StreamBase Reuters Edition (SRE) adding support for Reuters Data Feed Direct (RDF-D) and introducing Reuters Schema Designer, a “live preview” tool for browsing and content on Reuters Market Data System (RMDS). SRE makes it even easier to build ultra low latency real-time market data applications powered by Reuters market data feeds and RMDS, the vendors say. StreamBase Reuters Edition Version 2 builds on the initial SRE launch in November 2007 (Market Data Insight, November 2007).

Streambase News Release

Technorati Tags: StreamBase, Reuters, StreamBase Reuters Edition, SRE, Reuters Data Feed Direct, RDF-D, Reuters Market Data System, RMDS

Trading Metrics has released Market Latency Metrics, a new software application that measures real-time trading system throughput, market data latency and exchange delays. The system does not require modifications to the market data platform or the trading applications in use, Trading Metrics says. Market Latency Metrics samples network message traffic while it traverses datafeed handlers to consuming applications.

Trading Metrics News Release

Technorati Tags: Trading Metrics, Market Latency Metrics, trading system throughput, market data latency, datafeed handlers