In a move to lower latency on market data calculations, International Securities Exchange has adopted the Exegy Ticker Plant, a hardware-accelerated appliance, to handle all inbound market data feeds.
With this new technology, ISE, a leading U.S. options exchange, will not only lower the latency of its inbound data feeds, but it expects to reduce its production server footprint, the exchange said in today’s announcement.
Commenting in the release, Larry Campbell, chief technology officer at ISE, said, “We are constantly evaluating ways to optimize the performance of our trading infrastructure, and the Exegy solution presents a compelling alternative that helps us to reduce latency. We are very pleased to partner with Exegy on this important initiative.”
According to an ISE spokesperson, ISE will use the Exegy Ticker Plant for calculating the national best bid and offer (NBBO) display in its PrecISE Trade terminal as well as an ISE specific BBO calculation which it calls the ABBO —'which is the NBBO without ISE prices. ISE will use Exegy to process Options Price Reporting Authority (OPRA), Consolidated Tape/Consolidated Quote (CT/CQ) and Nasdaq data feeds as well as its own depth of book feed. The NBBO used is the NBBO as calculated by OPRA. It also utilizes the Exegy Ticker Plant to calculate the ABBO —as in "away-market."
Commenting on winning the ISE's business, Jim O’Donnell, chairman and CEO of St. Louis-based Exegy, explained, "The Exegy Ticker Plant is commonly used by traders at large banks and hedge funds because it gives them reliable, real-time stock, futures and options prices.The Exegy deployment at ISE will enable the exchange’s customers to benefit from the low-latency and stability of our cutting-edge technology."
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