NEW YORK, April 26, 2011 /PRNewswire/ -- Tervela, a New York-based provider of high-speed, no-loss data movement infrastructure to the financial trading community, announced today that it has signed a technology agreement with Tradeweb, the leading online marketplace for fixed income and derivatives. Under the terms of the arrangement, Tervela will provide Tradeweb with an enhanced messaging layer to integrate into its existing electronic trading infrastructure.
"Technology is at the heart of our business, and we take pride in making informed decisions when choosing technology partners," said Jay Spencer, Chief Technology Officer of Tradeweb. "When we looked to build out a new messaging layer in our trading infrastructure, we were looking for a rock-solid technology provider and a knowledgeable and responsive partner. Tervela scores well on both counts and has clearly met our expectations."
Tervela provides a dynamic data fabric that radically improves the reliability, performance and cost efficiency of infrastructures that require high speed, no-loss movement of data across complex and demanding business environments.
"Tradeweb has staked out a leadership position in the rapidly evolving electronic trading market for fixed income and derivatives," said Eric Schnadig, CEO of Tervela. "We are delighted to provide the mission-critical infrastructure and time-to-market agility Tradeweb needs for continued growth and technology platform leadership."
The Tervela TMX messaging platform offered Tradeweb the following key functionality:
- Hardware appliances for high-performance environments
- VM-based software versions for lower-volume locations & non-production environments
- High throughput and low latency performance
- Support for flexible message schemas within the product
- Three Quality of Service Levels with integrated data persistence
- A fully fault-tolerant design architecture
- A powerful API to support rapid and seamless client integration
- Centralized monitoring and provisioning
Tradeweb chose Tervela to address the information distribution demands of a worldwide network of electronic fixed income and derivatives trading customers in both established and emerging markets.
Tradeweb is a leading provider of online markets and a pioneer in the development of electronic trading and trade processing. The company provides services in the fixed income and derivatives markets to clients in more than 50 countries. Since 1998, Tradeweb has operated a global fixed income and derivatives trading network, which harnesses the distribution of the major investment banks with over 2,000 institutional clients. In 2008, Tradeweb introduced inter-dealing broking capability with the acquisition of voice broker Hilliard Farber and subsequently launched Dealerweb, an electronic IDB platform. Tradeweb Retail provides a trading and sales application to fixed income brokers and traders. Please find more information at http://www.tradeweb.com/.
Tervela provides a dynamic data fabric that radically improves the reliability, performance and cost efficiency of infrastructures that require high speed, no-loss movement of data across complex and demanding business environments such as global trading, telecommunications, cyber security, and new media. Founded in 2004, Tervela is deployed in leading Financial Services companies, including proprietary trading firms IV Capital and Allston Trading; prime brokerages such as GBM; brokers such as Goldman Sachs; marketplaces such as Tradeweb and interdealer brokers and exchanges such as ICAP. For more information, please visit www.tervela.com.
Erin McElwain [email protected]
All rights reserved. Tervela and the Tervela logo are registered trademarks of Tervela Inc. All other trademarks are properties of their respective owners.