IPC Systems, the electronic trading and infrastructure-as-a-service solutions vendor, has announced a partnership with Celoxica, a provider of ultra-low latency market data solutions, to deliver an FPGA-powered low-latency normalised market data feed across all asset classes.
The joint solution will offer buy side, sell side, and financial markets application providers access to a single API multi-exchange, ultra-low latency, normalized market data service, delivered via a fully hosted environment at exchange colocation, proximity hosted, or customer specified sites.
The partnership addresses a number of challenges that firms face when consuming low-latency market data from multiple markets, says Lee Staines, Global Head of Sales & Client Services at Celoxica. “Some of the challenges we see include disparate data sources in multiple locations with the need for deterministic low latency performance across multiple use cases and asset classes,” he tells TradingTech Insight. “The volume of data that needs to be processed keeps increasing exponentially. Technical resources are tight and trading strategies and algos are always the priority for trading firms. The ability to outsource the market data provision knowing performance is optimized, knowing that all elements of the market data delivery are taken care of, and the platform is stable and reliable is essential. Trading firms can then concentrate their scarce technical resources to the areas where they can differentiate themselves.”
In the face of increasingly volatile trading environments, the solution is designed to support a deterministic trading approach while reducing operational complexity and overhead costs. Staines highlights the benefits of combining best-of-breed infrastructure services from IPC with best-of-breed hardware accelerated feed handlers from Celoxica. “It wasn’t that long ago that FPGAs were seen as hard to use and, specifically, test,” he says. “FPGAs were expensive, especially if large scale deployment was required. Now, we can offer a hardware accelerated feed handler service in either a shared or a dedicated environment, at a very competitive price point. In addition, we take care of all the maintenance, monitoring, Exchange Driven Changes and latency across all supported venues and exchanges.”
“The partnership will start with the provision of the service to the derivative trading community in the US, UK and EU,” comments Alex Walker, Global Head of Network Data at IPC. “We then intend to extend globally and across all major derivative venues as well as other asset classes. We are also already working together to deliver full-service Risk/DMA platforms. We expect this to continue with the intent to extend the service provision across the full trading stack – buy side for Market data and the Sell side for Risk and Execution.”
