NEW YORK, October 19, 2010 /PRNewswire/ -- Correlix Inc., the operator of the industry leading RaceTeam service for monitoring, measuring and analyzing order and market data flows in real-time, today announced that Lime Brokerage, an independent agency broker and leading provider of high-throughput low latency technologies to the professional trading community, has selected the Correlix RaceTeam latency measurement service.
Lime Brokerage chose to partner with Correlix in order to achieve full latency transparency of its order processing and market data flows. The RaceTeam service will enable Lime Brokerage to gain real-time latency insight into its high-speed equities and options execution and market data services including its new ultra-low latency exchange co-located LimeInside service. The service will enable Lime Brokerage to provide Correlix certified latency figures to its customers.
"We are excited to be rolling out Correlix's RaceTeam service and measuring our low latency services for our customers," commented John Jacobs, Director of Operations at Lime Brokerage. "We are confident that the objective latency measurements provided by Correlix will provide valuable insight for our customers to understand how their orders and market data are being processed."
RaceTeam is an objective latency measurement service that enables trading firms to manage and share real-time Latency Intelligence with their customers as well as receive objective real-time latency data from liquidity venues. The RaceTeam service facilitates greater trading latency insight into each transaction and leads to optimized trading strategies, improved customer service and streamlined operations.
"We are very pleased that Lime Brokerage, widely recognized in the industry as one of the fastest providers of execution and data services available, has selected our RaceTeam service to measure and certify the latency of its services," explained Shawn Melamed, Founder, President and CTO at Correlix. "More and more buy-side firms realize that placing an order with a low latency broker requires complete latency transparency by the broker to facilitate predictable trading strategies."
Lime Brokerage will roll out the Correlix RaceTeam service into five different data centers in the United States in the fourth quarter of 2010 and the beginning of 2011.
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, visit http://www.correlix.com.
About Lime Brokerage
Providing customers with performance-engineered trading solutions that deliver speed, scale and reliability is the hallmark of Lime Brokerage. Lime integrates world-class advanced execution technology with clearing and reporting services for seamless support of the most complex, automated and high-volume electronic trading strategies. Our technology and trading platform allows our customers to access an independent, agency-only system to trade quickly, reliably and anonymously on multiple exchanges, ECNs and trading venues. Clients include professional traders, hedge funds, asset managers and broker-dealers. For more information about Lime Brokerage, visit http://www.limebrokerage.com or email firstname.lastname@example.org.
Press Contact for Correlix Tony Miller +1-617-418-3024 email@example.com Press Contact for Lime Brokerage Mike Felix Lime Brokerage +1-212-824-5544 firstname.lastname@example.org
SOURCE Correlix Inc