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Omega ATS Launches New Matching Engine ThymeX

Boosts performance of order executions in micro-seconds for ATS, making Omega ATS one of the lowest latency trading venues in Canada.

Omega ATS introduced a new matching engine called ThymeX that offers order execution in seconds, boosting the alternative trading system’s performance to become one of the lowest latency trading venues in Canada.

Developed, maintained and hosted entirely in Canada, ThymeX delivers advanced architecture, compressed market data feeds and flexible connectivity options including a streamlined direct applications programming interface (API) for sophisticated electronic trading. In addition, Omega has upgraded all the physical hardware and technology that supports the matching engine.

"Speed, reliability and price are key to the success of any ATS," stated Eric Stoop, Chairman, Omega ATS, in the release. "Omega has been known as the smallest ATS in Canada but our daily transaction and share volumes recently put us ahead of some of our closest competitors. We've already been offering the most aggressive pricing structure, and by combining that with a matching engine that delivers industry-leading performance, reliability and features, Omega is positioned to leave the competition behind."

Omega ATS provides a fast, price/time priority trading platform where dealers and their clients can trade at the CBBO (Canadian Best Bid and Offer) at extremely competitive rates. It has more than 70 subscriber firms including Canada’s five largest dealers.

Kevin O’Connor, Vice President at Credit Suisse, commented in the release, "We are always excited when our trading partners offer solutions that reduce latencies and trading costs. There is no doubt that our clients will continue to benefit from Omega's alternative pricing model and the improved performance of their new faster ThymeX matching engine."

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

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