Fixnetix Announces a Tier One Bank in New York Offers FPGA iX-eCute for Nanosecond Trading with 20 Customisable Risk Checks
US based trading customers may now access risk mitigating technology through Fixnetix.
New York, May 29, 2012 – Fixnetix, global managed services provider for ultra –low latency trading solutions, announced today a tier one global investment bank has signed to offer iX-eCute, the Field Programmable Gate Array (FPGA) solution for pre-trade compliance and 20 customisable risk checks in nanoseconds. iX-eCute is a programmable logic device designed to meet US regulatory requirements directed by SEC Rule 15c3-5 for greater pre-trade risk control and transparency. The bank wishes to remain anonymous; however, interested trading firms may contact Fixnetix directly for access and instant risk control solutions. “Fixnetix is pleased to announce our FPGA solution, iX-eCute, for pre-trade risk and nanosecond trading is accessible through one of our tier one bank customers in New York,” says Hugh Hughes, Chief Executive of Fixnetix. “Having risk controls in place before providing access to the market is critical in the US. Our global bank customer is leveraging the latest technology whilst addressing mandatory compliance requirements.”
Fixnetix, winner of the 2011 Deloitte Technology Fast50 UK, provides outsourced managed services across multiple asset classes to leading global banks, hedge funds and proprietary trading groups seeking ultra-low latency trading, market data, hosting, infrastructure connectivity and risk management solutions. The company is in 33 co- location and proximity hosting centres across Europe and the US and offers trading access to over 79+ markets. November 2011, Fixnetix won first place for the 2011 Deloitte UK Technology Fast 50, earned 2nd place in the Deloitte Technology 500 EMEA and placed fourth in the 11th annual Sunday Times Microsoft Tech Track 100 league table which ranks Britain?s one hundred privately-owned technology, media and telecoms (TMT) companies with the fastest-growing sales over the last three years.
Fixnetix is one of the first companies to offer the FPGA for execution. The company announced late November 2010 a real-time low latency filter, iX-eCute, an FPGA (Field Programmable Gate Array,) to solve the eternal industry conundrum of pre-trade risk, compliance and ultra-low latency execution. iX-eCute opens the marketplace to all participants with no detrimental impact on trading performance with the necessary risk controls. iX-eCute enforces pre-market risks at nanosecond time frames whilst preventing impact on latencies that historically have slowed down more traditional trading systems and models. Unlike other solutions, the iX-eCute microchip has near zero impact on latency for governing the required checks directed by the recent SEC Rule 15c3-5 and anticipated declarations from other regulatory governing bodies. The FPGA is available and being utilised for execution with nic to nic times as low as 740 nanoseconds.
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