By Rajani Baburajan , TMCnet Contributor
Correlix, a provider of latency intelligence solutions, has announced version 3.0 of its RaceTeam latency monitoring service.
Latency intelligence solutions from Correlix monitor, measure, and analyze order execution and market-data flows in real-time.
RaceTeam 3.0 includes the industry’s first market latency data feed, company officials said. It also introduces new capabilities to monitor and alert on other real-time trading events, including unacknowledged and stuck orders.
With this solution, RaceTeam customers gains the ability to configure and read the real-time latency feed, which includes comparative latency metrics, such as the latency arbitrage between different stocks to adjust strategies for market making or statistical arbitrage.
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The new latency monitoring service utilizes Correlix’s proprietary patent-pending technology for processing real-time order and market data traffic and extracting real-time latency data.
“High frequency traders and sell side firms are looking to use latency information as actionable data,” Shawn Melamed, founder, president and CTO at Correlix, said. “RaceTeam 3.0 enables traders and developers to automatically tune trading strategies based on dynamic latency conditions.”
“With the high level of fragmentation and velocity of price changes in the market, it is no longer about what is the best price out there, but whether what is the best price that can be obtained at any particular microsecond,” Melamed added.
The Correlix RaceTeam service is an industry wide real-time Latency Intelligence network that includes many key market players including firms such as NASDAQ OMX Group, Schneider Group and Interactive Data.
During the year 2009 Correlix recorded grew more than 200 percent per quarter for four straight quarters, an announcement from the company said. The company appointed Gil Shaked as chief executive officer. In addition, the company doubled their staff, opened an office in London and achieved a global client base in the US, Europe and Asia comprising some of the world premier Investment Banks, Hedge Funds and Exchanges.
Rajani Baburajan is a contributing editor for TMCnet. To read more of Rajani’s articles, please visit her columnist page.
Edited by Patrick Barnard
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