Chi-X Global Technology (Chi-Tech) has selected messaging technology from 29West for the low-latency market data delivery infrastructure of its MarketPrizm service.
The MarketPrizm business provides a trading infrastructure solution powered by an optimized network linking 19 markets and locations. It provides neutral, high-speed access to European market centers with low latency market data and a range of third-party applications and services.
In a statement, Mark Mahowald, President and Founder of 29West, said, “We're excited that 29West Messaging will help power the low-latency performance of market data delivery in MarketPrizm. Lowering system latency delivers immense value to firms trading in today's markets, and 29West is happy to bring our unique expertise in this area to help provide competitive advantage to Chi-Tech's MarketPrizm customers.”
Added Richard Leung, Chi-Tech's Chief Technology Officer, “We try to partner with specialized providers where it makes sense for our clients and our development strategy. In this case, we selected the 29West product for its demonstrated performance and the fact that many banks and trading firms have already implemented 29West products in other parts of their infrastructures.”