Quote MTF Releases Internal Latency Measures for Matching Engine

At the median, Quote MTF's ThymeX matching engine could acknowledge new orders in 142.2 microseconds, and fill new orders within 199.6 microseconds, based on data from Oct. 4th.

Quote MTF, an alternative trading venue for Pan-European securities has published latency test results for its matching engine, ThymeX. The figures demonstrate low latency order acknowledgment, order fill and cancel completion times.

ThymeX’s low latency measures were reported from Oct. 4, 2010. For new order acknowledgement time, the median was 142.2 microseconds; for new order fill time, the media was 199.6 microseconds and for cancel completion time, the media was 141.4 microseconds. The figures for the 75th, 90th and 97th percentile for each of the categories were also disclosed.

“Execution speed is of paramount importance to an investment strategy’s success as high or low yields can be decided in sub-millisecond timeframes,” commented Tamas Madlena, CEO, Quote MTF, in the release. “With the healthy, competitive trade venue environment that Europe currently enjoys, trading firms needn’t compromise their strategies while seeking to benefit from lower costs. A tightly integrated, optimized trading environment is required to ensure that real return on investment is not affected by market delays or impact.”

Quote MTF confirmed that it’s receiving strong support for its recently announced equity program from both passive liquidity providers and aggressive seekers. Details of the partnership negotiations will be announced later this year, the company said.

Madlena stated: “Quote MTF’s equity program has gained significant interest and we will be finalizing partnership agreements with a series of key liquidity providers throughout the rest of this year. By leveraging technology such as the ThymeX matching engine, which is tried, tested and proven in the Canadian markets via Omega ATS, Quote MTF is confident the platform will provide fully scalable, low-latency performance to support the surge of activity we foresee in the pipeline.”

In addition to raw speed and an enticing business model, Quote MTF is leveraging a host of technology tools and features from parent company Orbixa, including connectivity and market data dissemination solutions.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio