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August 2013

FIX Protocol Ltd announces rebrand and the launch of a new website designed to create the on-line meeting place for the global FIX Trading Community

August 20, 2013 by mikeohara   Comments (0)

19th August 2013 – FIX Protocol Ltd, the non-profit, industry-driven standards body at the heart of global financial trading, today announced the rebranding and name-change of the organisation to “FIX Trading Community”, in addition to the launch of a new website that creates a unique platform where the global FIX community can meet and exchange knowledge.


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Bank of England Deputy Governor Visits First Derivatives

August 14, 2013 by mikeohara   Comments (0)

First Derivatives, the leading provider of software and consulting services to the capital markets industry, announces that the Company was visited yesterday by Deputy Governor of the Bank of England, Charlie Bean, as part of his visit to Northern Ireland.


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Enyx Fair Bandwidth Management selected by Apsara Networks to support their microwave networks

August 12, 2013 by mikeohara   Comments (0)

Microwave solutions increasing importance in low latency trading

Paris, France 12 July 2013. Apsara Networks, Inc has selected the latest Fair Bandwidth Management (FBM) solution from Enyx to enhance its specialist low latency Radio Frequency (RF) networks operating within the NY/NJ Metro area at key financial venues. 

The Enyx FBM solution provides Apsara electronic trading community clients with   bandwidth and ultra-low latency connectivity.  The appliance employs a unique traffic policing system to prevent user data from impacting other users or user performance.
The selection was made after several months of technical due diligence involving Apsara’s employees and customers.

Advancements in microwave technology have increased connection speeds for the financial services industry with latency sensitive trading firms and exchanges increasingly viewing microwave technology as a way to achieve microsecond advantage over their rivals.

“Microwave and Millimeter Wave technology is quickly gaining acceptance, in the trading community,” says Ravi Jeyaratnam, President at Apsara Networks. “In three years, I expect most arbitrage trading will be done using radio frequency connections.” He added “We are delighted that Enyx FBM will support Apsara’s entire offering for RF services at key financial venues in the NY/NJ metro market to enable this progress”.
Arnaud Derasse, CEO of Enyx said “Enyx is proud to be providing Apsara with an innovative solution to deliver fair bandwidth management to their clients”.
Enyx provides a state of the art FPGA solution deploying a specialist 1U appliance on each end of the wireless link. Delivered as a standard network product the FBM easily fits in an existing infrastructure and offers web and SNMP based tools to provide constant monitoring of the wireless link health.

About ENYX, SA
Enyx is a leading developer and provider of proprietary ultra-low latency technology and solutions, primarily for trading. Enyx’s FPGA and Fair Bandwidth Management products deliver the next generation of cutting-edge technology, while also remaining accessible and flexible. Enyx provides both off-the-shelf solutions and bespoke solutions and also assists in the integration and deployment of its platforms into the customer’s infrastructure. Enyx’s clients include market data vendors, investment banks and investment funds. 

About Aspara
Apsara Networks is a leading provider of Metro Area Millimeter and Microwave Services to the electronic trading community with market leading low latency routes between several key financial venues and liquidity centers.


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AlgoSpan Low Latency Exchange Access Infrastructure Connects to The Order Machine (TOM)

August 6, 2013 by mikeohara   Comments (0)

LONDON / New York, 1 August 2013 - AlgoSpan, the specialist market infrastructure provider, is pleased to announce that as of
1 August 2013, customers of AlgoSpan will be able to connect to TOM MTF over “AlgoNet”.

Dr Rami Habib, co-founder and director of AlgoSpan quotes “We are delighted to connect The Order Machine to the AlgoSpan Low Latency infrastructure. Now AlgoSpan clients can trade on TOM from any one of our existing Exchange Datacentres over “AlgoNet”. In a fragmented and competitive market, we are increasingly seeing trading firms and fund managers looking at alternative venues for liquidity and price improvement. TOM is gathering a lot of interest and we are very happy to be able to offer TOM as an alternative venue to our clients”. 

Willem Meijer, CEO of TOM, “TOM has now realised a significant market share of more than 25% in Dutch equity & index options and aims for a market share of 30% - 40% by year end. We are therefore very pleased that more and more trading firms are connecting to our market via connectivity specialists such as AlgoSpan." 

Notes to editors

About The Order Machine (TOM) 
TOM is a trading venue in The Netherlands offering equity and options trading and aiming at optimal competition between markets. To be able to guarantee best execution of client orders, TOM developed a search engine (‘TOM Smart Execution’) which compares prices, faster than a blink of an eye, between markets. The order is executed at the trading venue showing the best available price at that moment. TOM has established a substantial market position in equity and options trading. The shareholders of TOM are: ABN AMRO Bank, BinckBank, IMC, Nasdaq OMX and Optiver.

About AlgoSpan 
AlgoSpan provides end-to-end trading infrastructure and real-time market data services to financial services firms operating low latency / high frequency trading strategies – proven to bring direct improvements to bottom-line trading performance. AlgoSpan’s trading infrastructure (branded AlgoNet) underpins all customer solutions, including delivery of its multicast normalised and raw exchange data (branded AlgoData).


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