Managed services provider responds to regulatory demands for pre-trade risk controls
LONDON, Thursday, November 18th 2010 [ME NewsWire]:
(BUSINESS WIRE)-- Fixnetix announced today a USA patent has been filed for an integrated microchip for single digit microsecond trading. The Programmable Logic Device, (PLD,) microchip is called iX-ecute and has been in development for the last twelve months. Fixnetix embarked on this program in response to an industry requirement for greater pre-trade risk control and transparency for ultra-low latency all asset class trading.
“Due to industry demand we have been working with our customers and regulatory bodies to provide a compliant solution with single digit performance,“ says Hugh Hughes, Chief Executive of Fixnetix. “This latest development contributes greatly to the success of our overall plan to be a full front office managed services provider to the global financial marketplace.”
iX-ecute has been primarily designed to increase the speed of real-time risk controls in accordance with the current and pending regulatory landscape. The solution protects market participants in filtering out rogue orders that may have a potential negative impact on themselves, their customers and liquidity venues before they get to the market.
“In response to customer demand and an industry need for a more transparent pre-trade system, we’ve created a real-time low latency filter to solve the eternal industry conundrum of pre-trade risk, compliance and ultra-low latency execution,” offers Paul Ellis, Chief Operating Officer of Fixnetix. “iX-ecute opens the marketplace to all participants with no detrimental impact on trading performance with the necessary risk controls. This solution complements our existing product suite, services and partner offerings.”
“iX-ecute enforces pre-market risks at nano-second time frames whilst preventing impact on latencies that historically have slowed down more traditional trading systems and models,” says Matt Dangerfield, Director of Trading Solutions. “Unlike other solutions, the iX-ecute microchip has zero impact on latency for governing the required checks directed by the recent SEC Rule 15c3-5 and anticipated declarations from other regulatory governing bodies.”
About Fixnetix
Fixnetix is in 28 co-location and proximity hosting centres across Europe and the US to support trading across all the major cash equities, futures, FX, commodities and bond markets. The company offers both raw and ultra low latency normalised market data services, as well as low latency trading access for member firms and sponsored trading access to over 59 + markets.
Fixnetix's direct ultra-low latency market data feed solutions are fast, reliable and flexible, featuring best-of-breed high performance feed handler technology, dual ticker plant technology and unparalleled high bandwidth provisions. Feeds are available in multiple formats for quick and seamless integration, offering full redundancy throughout the entire delivery mechanism, and are provided on-the-wire reducing support and implementation costs and timeframes. www.fixnetix.com
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