London/Bogotá, 21st July 2010: Rapid Addition, the leading global provider of low-latency trading technology solutions to financial institutions, today announced its engagement with the Bolsa de Valores de Colombia (BVC) to implement GRHubTM, Rapid Addition’s flagship FIX Protocol gateway and order routing hub, and RA Trader, Rapid Addition’s web-based, FIX-enabled dealing system.GRHub™ is the latest addition to RA’s family of low latency financial information communications products. Built on Rapid Addition’s GenerationZero™ technology, GRHub™ is capable of onward routing Financial Information eXchange Protocol (FIX) messages, or acting as a gateway by converting them into an extensible list of commercially-available middleware protocols or proprietary in-house protocols.
RA Trader is Rapid Addition’s lightweight buy-side trading application, which connects traders to multiple trading counterparties, either brokers or execution venues. Using RA Trader gives institutions the ability to automate their flow of equity orders, equity options, program, list, and portfolio trades, and also supports Direct Market Access (DMA) and algorithmic trading.
Rapid Addition was chosen by the BVC on the basis that they could exceed the low latency performance requirements of BVC’s exchange members.
Toby Corballis, CEO of Rapid Addition, welcomed the announcement, saying:
“We are delighted to be working with the BVC by providing them with the lowest latency hub solution available on the market today. This will enable the exchange to give its users the best possible performance and help them maintain their competitive edge in the market.”
Jitendra Puri, Vice President of Technology of the Bolsa de Valores de Colombia, said:
“By choosing a firm of Rapid Addition’s industry-leading reputation, we wish to send a clear message to the community that we are totally committed to providing a fully modernized, state-of-the-art solution for the Colombian securities market. Rapid Addition’s expertise in global FIX connectivity and low-latency FIX trading technology made them the best choice for the BVC as we look to expand our offerings internationally.”
Kevin Houstoun, Chairman of Rapid Addition, will be speaking at the FIX Protocol Latin America Electronic Trading Conference, taking place on 9th August 2010 in the Marriott Renaissance Hotel, Sao Paulo, Brazil.