Software measures and tracks speed of trades.June 19, 2008 -
Compliant with FIX 4.X-5.0 and expandable to other trading protocols, Trading Latency Metrics(TM) tracks speed at which trades are received, routed, and executed by Exchanges. It can detect and measure latency, in microseconds and at network level, by trading session, venue, order ID, or customer account. Included information portal lets user run statistical reports, analyze trading sessions, or view flow of order receipts and trade execution times. Software also supports Latency Alerting.
(Archive News Story - Products mentioned in this Archive News Story may or may not be available from the manufacturer.)
Original Press release
Trading Metrics Inc.
Suite 130
New York, NY, 10001
USA
Trading Metrics Announces Trading Latency Metrics(TM)
NEW YORK, June 9 -- Trading Metrics(TM) announces Trading Latency Metrics (TM), a fully integrated solution for tracking the speed of trades. The solution tracks the speed at which trades are received, routed and executed by Exchanges.
Trading Latency Metrics can detect latency by trading session, venue, order ID or by customer account. It tracks the order receipt time, the time for delivery to a trading venue, and the time the trading venue takes to acknowledge and execute the trade. Latency measurements are in microseconds, or 1/millionth of a second, increments.
The product is FIX 4.X to 5.0 compliant and can be expanded to other trading protocols. The system includes an easy-to-use "information portal" to run statistical reports, analyze trading sessions, or to view in near real-time the flow of order receipts and trade execution times.
Trading Latency Metrics is a non-intrusive software product which measures latency at the network level. It is deployed using the Endace NinjaBox (TM) appliance for hardware based data capture and time stamping. The hardware attaches to a SPAN port or "tap" on the network switch. In this way, the solution "listens" to copies of the messages and does not impact the existing network or applications.
"Our clients use the trade latency data in DMA Reports to show the timeliness of order receipt, order routing and fills," said Jeff Drew, CEO of Trading Metrics. "The sell-side believes this level of reporting helps them to compete for order flow," continued Drew.
Additionally, the product supports Latency Alerting which can be triggered if a component of the transaction is delayed. Specific measurements for Latency Alerts and historical analysis includes:
-- Overall order handling and execution times
-- Latency at critical components -- network travel and system processing
-- Speed of trading venues -- order acknowledgements and fill times
-- Trade statistics per customer
"Aggressive trading firms want to know which venues are fast and which ones are slow. They want to begin to re-direct order flow dynamically to the venues where they can get the trade done," added Drew.
Contact:
Marie Giangrande
Trading Metrics
Mobile: 203/536-1334
Company Background
Trading Metrics (TM) Inc. is a privately held company with venture-backed funding from VantagePoint Partners. The company was founded to help brokers build and deploy latency tracking systems. In 2007, Trading Metrics accepted venture funding to expand its offerings and to address the requirements of the Capital Market sector for a software platform that is quickly deployed, easily expandable and globally available. In 2008, Trading Metrics announced a world wide resale agreement with Reuters who markets the solution as Reuters Latency Monitor.
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