Fixnetix Announces Connectivity to London Metal Exchange (LME) Expanding to 85 Markets Worldwide
Open outcry opens doors to electronic trading growth.
London, UK - 3 May 2012 – Fixnetix announced today connectivity to the LME (London Metal Exchange,) is now available as part of the Fixnetix 85 markets ultra-low latency global infrastructure for market data, trading and risk control. The relationship indicates algorithmic trading and electronic trading are on the rise whilst exchanges are recognising the positive impact on volumes. Just recently, LME publicly noted an upgraded trading platform for stronger performance and to respond better to the record breaking order flow from the algorithmic trading space.
“Fixnetix customers demand multi-asset class market access from any Fixnetix based data centre,” says Hugh Hughes, Chief Executive of Fixnetix. “We are pleased to offer low latency market data from the London Metals Exchange (LME) as they begin to bridge floor trading with the benefits of the worldwide electronic trading community.”
“We are pleased to welcome on board a significant player in the market data field, who we are sure will benefit the wider market by adding LME data to their mix,” says Michael Warren, Chief Technology Officer of LME. “The platform and location upgrades we have made over the last year or so, which have significantly reduced latency and made connectivity more straight-forward are now making the LME feed more attractive to firms such as Fixnetix, justifying our investment decisions.”
The LME primarily offers futures contracts for Copper, Aluminium, Zinc, Lead, Nickel and Tin. Among these, Copper is one of the largest traded contracts and its wide usage in different industry makes it play an important role as an indicator of performance of economy. Aluminium is the largest contract traded on LME as it has become the most extensively used metal worldwide.
About the London Metal Exchange
The London Metal Exchange is the world's premier base metals market. It aims to set the global standard for price risk management in metals and provide tools including futures and options contracts for aluminium, copper, tin, nickel, zinc, lead, aluminium alloy and NASAAC, steel billet and the minor metals - cobalt and molybdenum. In 2011, 146.6 million lots were traded at the LME, while the total value of trading on the Exchange was $15.4 trillion. At the close of the year 7 million tonnes of material were held on LME warrant in 734 storage facilities across 37 locations internationally. http://www.lme.com/
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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