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Correlix Launches RaceTeam(TM) for Inter-Party Latency Management

June 2, 2009

Options IT Increases Latency Transparency within Infrastructure by Joining RaceTeam

NEW YORK, June 2 /PRNewswire/ — Correlix, Inc. a leader in Latency Intelligence(TM) solutions that monitor, measure and analyze trade execution and market-data flows in real-time, today launched RaceTeam(TM). This new service offering extends Latency Intelligence to manage inter-party latency visibility in a shared environment to improve market data and trade execution processing.

“RaceTeam helps trading partners visualize latency performance at a granular level within their own firms as well as share relevant latency intelligence with their trading partners within a secure environment,” said Shawn Melamed, CEO. “Our primary goal was to create a collaborative latency measurement and monitoring service for RaceTeam participants to enable them to improve order execution and trading services.”

Market participants, service providers and execution venues participating in RaceTeam will operate within a shared latency intelligence platform. Specific trading parties can choose to securely exchange latency information with an agreed level of transparency for fast problem resolution. Market participants improve profitability of their trading strategies, service providers guarantee customer order flow and execution venues attract consistent order volume.

Options IT, a global provider of high-performance technology infrastructure to hedge funds, proprietary trading firms and brokerages, has joined the Correlix RaceTeam. As a member, Options IT will be alerted to latency bottlenecks in real-time ensuring they have the ability to provide their clients executing quantitative trading strategies with the ability to monitor and eliminate trading latencies at each step of the execution process.

“In today’s volatile trading environment, it’s essential that our high-frequency trading clients are able to execute orders with the lowest possible latency for successful trading,” said Nigel Kneafsey, CEO of Options IT. “By joining the Correlix RaceTeam we can offer our clients real-time latency visibility as a part of our commitment to enhancing trading performance.”

The new RaceTeam service will be showcased at Mondo Visione Exchange Forum 2009; New Connaught Rooms, Covent Gardens, London, June 2 to 3, 2009. For additional information, please visit Correlix at booth number one.

About Correlix

Correlix Inc. provides Latency Intelligence(TM) software that pinpoints and quantifies sources of latency for the capital markets industry. Customers rely on Correlix to monitor measure and minimize latency in trade execution and market data flow in real-time. This empowers users to execute a trade or deliver and act on market data in fewer milliseconds. Correlix customers include capital market firms on the buy and sell-side and in exchange environments.

Established in 2005, Correlix is headquartered in New York with research and development offices in Israel. Correlix is venture financed by Sequoia Capital, Genesis Partners, Blumberg Capital, Vernon & Park Capital, L.P. and Xenia Ventures. For more information, visit www.correlix.com.

About Options IT:

Options IT is a global provider of high-performance technology infrastructure for hedge funds and brokerages. Founded in 1993, Options IT is a pioneer of the “Infrastructure as a Service” (IaaS) technology management model.

Combining innovative technology solutions with a highly experienced management and support staff, Options IT provides financial services firms with a high performance, low-cost alternative to IT management. With offices in the United States, UK, Europe and Asia, Options IT offers global solutions to over 120 hedge funds, proprietary trading firms and brokerages ranging from $50 million to $40 billion in size. For more information, visit http://www.options-it.com/

SOURCE Correlix, Inc.


Source: newswire



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