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Direct Edge to Provide Detailed Latency Data Through Correlix RaceTeam(TM)

July 29, 2010

NEW YORK, July 29, 2010 /PRNewswire/ — Correlix Ltd., the leading
provider of Latency Intelligence(TM) solutions for monitoring, measuring and
analyzing order and market-data flows in real-time, today announced that
Direct Edge, America’s newest stock exchange, has selected Correlix’s
RaceTeam latency monitoring service to provide full latency transparency of
order execution and market data flow in real-time to its customers.

The RaceTeam service will enable Direct Edge to provide real-time latency
insight into its new EDGX and EDGA exchanges, including displaying the
matching engine timing. This new level of data availability will enable
Direct Edge customers to optimize their trading strategies.

“As one of the few markets willing to provide latency details up to the
matching engine, we are excited that through the Correlix RaceTeam service,
our customers will have a valuable toolset to better optimize their
experience on our new, state-of-the-art trading platforms,” commented Bryan
Harkins
, Head of Sales and Strategy at Direct Edge.

RaceTeam is an objective venue-neutral service that enables trading firms
to manage and receive real-time Latency Intelligence information from various
trading venues. The RaceTeam service facilitates greater trading latency
insight into each transaction and leads to optimized trading strategies,
improved trade execution and streamlined inter-party latency problem
resolution.

“We are pleased to welcome Direct Edge and its two new exchanges to our
rapidly expanding RaceTeam service,” said Shawn Melamed, Founder and
President at Correlix. “As Direct Edge introduced faster matching engine
technologies into the market, we are seeing an increased demand from
customers to better understand the latency behavior on these new platforms in
an effort to determine the best way to trade.”

The RaceTeam availability of Direct Edge data is expected in the fourth
quarter of this year, subject to SEC approval. For RaceTeam participation
information, please contact your Direct Edge or Correlix representative.

About Correlix

Correlix Inc., a leader in latency intelligence solutions, offers
RaceTeam(TM), the leading latency management service providing real-time
latency visibility for buy-side, sell-side and liquidity venues. 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 microseconds. The company’s global
client base encompasses the world’s largest high frequency trading sell-side,
buy-side and market centers as well as low-latency service providers.

Correlix is headquartered in New York with offices in London and Israel.
Correlix is backed by prominent venture capital groups Sequoia Capital,
Genesis Partners, Blumberg Capital, Vernon & Park Capital, L.P. and Xenia
Ventures.

For more information, please visit http://www.correlix.com.

About Direct Edge

Direct Edge, America’s newest stock exchange, offers the next generation
of displayed markets. With U.S. cash equities volume routinely exceeding 1
billion shares per day, Direct Edge uses multiple exchange platforms and
unique order types to match complementary forms of liquidity based on
sensitivity to transaction cost, fill rate, and fill speed, while maintaining
high execution quality and low latencies. Headquartered in Jersey City, N.J.,
Direct Edge is owned by a consortium that includes the International
Securities Exchange, Knight Capital Group, Inc., Citadel Derivatives Group,
The Goldman Sachs Group, and J.P. Morgan. More information about Direct Edge
is available at http://www.Direct Edge.com. Everybody Needs Some Edge.

    Press Contacts

    For Correlix
    Tony Miller
    +1-617-418-3024
    tony@noteyamedia.com

    For Direct Edge
    Rafi Reguer
    Head of Corporate Communications
    +1(201)942-8234
    Rreguer@DirectEdge.com

SOURCE Correlix Inc


Source: newswire



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