Chicago Board Options Exchange Selects Correlix RaceTeam(TM) to Provide Latency Transparency
NEW YORK, Nov. 3, 2010 /PRNewswire/ — Correlix Inc., the industry-leading provider for Latency Intelligence(TM) solutions for monitoring, measuring and analyzing order and market data flows in real-time, today announced that the Chicago Board Options Exchange (CBOE), the largest U.S. options exchange and creator of listed options, is joining the Correlix RaceTeam(TM) latency measurement service.
CBOE has selected Correlix’s RaceTeam to measure the latency of order execution in its infrastructure and provide this data in real time to its customers. The RaceTeam service will enable CBOE to provide real-time latency insight into its existing CBOE exchange and its new all-electronic C2 Options Exchange (C2). This latency data will enable CBOE customers to optimize their trading strategies, react more quickly to changing market conditions, manage latency performance and streamline operations.
“We are pleased to join Correlix’s RaceTeam latency measurement service, which soon will allow us to provide real-time latency information to our customers,” said Gerald O’Connell, CIO and Executive Vice President of Systems at CBOE. “This service will help our customers better understand how their orders are being processed and, ultimately, we feel that this added degree of transparency will help them trade on CBOE even more effectively than they do currently.”
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.
“As we expand our latency transparency service into the options marketplace we welcome CBOE into our RaceTeam service,” said Shawn Melamed, Founder, President and CTO at Correlix. “As customers’ strategies evolve to span multiple asset classes, the ability to integrate cross-asset latency data is a key ingredient in identifying new opportunities.”
The RaceTeam availability of CBOE latency data is expected later this year. For RaceTeam subscription information, please contact your CBOE or Correlix representative.
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 www.correlix.com.
Press Contact Tony Miller +1 617 418 3024 firstname.lastname@example.org
SOURCE Correlix Inc.