Nexa Launches Black-Box System
Nexa Technologies, an Irvine, Calif.-based company specializing in direct-access brokerage technology, unveiled Spinnaker, a black-box trading system that targets hedge funds. "The market demand in this space is for the least amount of latency and the least amount of technical encumbrances on the system with regard to data and execution capabilities," says Eric Stoop, president, Nexa Technologies. Spinnaker has five main components: Tickstream, a market data feed that covers equities, options, futures, single-stock futures and European data; Fastpath, an execution gateway with a special FIX-messaging feature that enables users to request the latency status in a given feed; OmniPro, a direct access front-end trading tool with risk-management pieces; Tickdata, an historical tick database for back-testing models; and a hosting-facilities management component that allows clients to colocate their black box in Texas, New York and London.
"From an execution perspective, you're getting complete access to the market and an extremely fast execution time, along with risk management."says Mark Munoz, SVP, corporate development, Nexa.
PAETEC Pushes IP Technology
Fairport, New York-based PAETEC Communications launched an Internet protocol (IP) product set for trading floors and brokerages that includes automatic ring-down, manual ring down, hoot and holler, and shared T1 access. According to William Wagner, PAETEC's VP of technology, financial markets, IP voice trading is cost efficient and offers disaster-recovery capabilities.
"We can take a circuit in an IP world and build three or four legs on the circuit so that customer A has a main site and a backup site," he says. "If there's a failure in the loop, the other locations are already working," he explains. "When you add the cost of the disaster recovery into the network, you're still coming out cheaper than in the TDM [time division multiplexing] world."
PAETEC offers a full suite of integrated local, long-distance and toll-free services, as well as data and communications-management services.
Portfolio Analysis Goes 3-D
Primena, a Bedford, Mass.-based software provider, released Primena XD, a three-dimensional financial-analysis platform for hedge fund traders and other investment managers who need to monitor complex portfolios. "There's a lot of focus on alternative investments and hedging [in the asset-management industry], which makes investment a little bit harder," CEO Andy Najda says. Primena XD provides risk management and a way to understand "how a portfolio is positioned and how it's doing relative to its peers," he adds.
The platform is available in two versions: Primena XD Standard and Primena XD Pro, which includes an application program interface and platforms for handling multiple data sources, including internal or proprietary time-series information.