Exegy Boosts Performance and Features for Derivatives Markets

Nov 23, 2015, 11:55 ET from Exegy, Inc.

ST. LOUIS, Nov. 23, 2015 /PRNewswire/ -- Exegy Inc., a leading provider of managed services and low-latency technology for market data normalization and distribution, has announced today new versions of its hardware-accelerated appliances that improve performance and functionality for the derivatives markets.  The enhancements to the Exegy Ticker Plant and Exegy Market Data System products mark the latest in a series of releases targeted at market makers, agency businesses, and proprietary traders who participate in the equity options, futures, and spreads markets.  "The primary drivers for this series of product enhancements are the continued increases in market data rates in the derivatives markets, the introduction of new equity options exchanges in the United States, and the dramatic reduction in exposure auction timers over the past nine months," says chief technology officer David Taylor.  "The improvements are meaningful for a wide range of our customer use cases – from the consumption of the consolidated Options Price Reporting Authority feed for regulatory compliance to the consumption of direct feeds in order to participate in the initial exposure auctions for user-defined intra-day spread contracts," adds Taylor.

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The June release of version 3.6 of the Exegy Ticker Plant and Exegy Market Data System appliances doubled capacity for real-time quote traffic, including the computation of the best bid and offer across a user-defined set of markets (UBBO).   The performance enhancements are the result of architectural enhancements to the FPGA logic that handles quote and UBBO processing.  Exegy deployed version 3.6 to its deployed estate of appliances in order to prepare its customers for the launch of the new BATS EDGX Options and ISE Mercury exchanges for US equity options.  In addition to providing twice the quote processing capacity, the performance enhancements allow Exegy appliances to continue providing consistently low latency in the presence of increased traffic rates.  "These enhancements are a great example of the flexibility and enduring value of our hardware-acceleration technology.  We were able to remotely upgrade deployed appliances using our global managed services infrastructure.  Our customers enjoy huge performance gains without the cost of deploying and managing more hardware or the risk of churning the datacenter," says chief information officer Scott Parsons.

The Exegy appliances and client API have also been enhanced to enable users to participate in exposure auctions for complex contracts that may be created dynamically by market participants.  Several derivatives exchanges have dramatically reduced their auction exposure timers over the past nine months.  In some cases, the response latency requirement has been tightened by a factor of 10 or more.  "Our recent enhancements minimize the latency and complexity of receiving auction indications and reference data associated with new user-defined contracts, even when the information arrives asynchronously from the raw market data feeds," says David Taylor.  The Exegy data model was extended to provide fully normalized auction notification events and a comprehensive cache of ongoing auction data.  Exegy also added a new, low-latency delivery mechanism for instrument reference data.  "Our managed service enables us to foster strategic relationships with our customers that produce meaningful benefits for their businesses and our products.  These enhancements are the fruit of close partnerships with leading derivatives market makers and agency businesses," adds Taylor.

"These are just the most recent examples of our commitment to deliver more value at lower total cost of ownership to our customers," says chief executive officer James O'Donnell.  "As more trading venues emerge, market data rates increase, and latency requirements tighten for auction responses, participants in the derivatives markets are seeking vendors with the expertise, technology, and economies of scale to deliver high-performance solutions at lower total cost.  Exegy is uniquely positioned to deliver that total package," adds O'Donnell.

About Exegy, Inc.
Exegy provides best-of-breed technology and managed services for the normalization and distribution of real-time market data to a diverse set of élite firms in the financial services industry. Today Exegy serves as a strategic partner to leading exchanges, market makers, sell-side banks, buy-side asset managers, and proprietary traders. At the heart of Exegy's product line are purpose-built, hardware-accelerated appliances derived from an extensive portfolio of patented and patent-pending technology.  For more information, please visit www.exegy.com and follow Exegy on LinkedIn and Twitter @ExegyMarketData.


SOURCE Exegy, Inc.