TORONTO, Ontario and New York, NY, October 23, 2012 – OnX Enterprise Solutions, a leading global enterprise data center IT solutions provider, today announced their participation, along with Intel and other partners, in the testing of new trading technology. Following the interest in independent testing of FIX engine latency in early 2012, the Finteligent Trading Technology Community (FTTC) has been formed to promote the collaboration between vendor and end user communities to improve the engineering and transparency in data for high performance trading operational solutions.To enable ongoing communication of research and results, the community has established a social media hub through which it will promote its activity. Through this hub participants will be able to promote the activity of their individual companies as well as the activity of the community as a whole. The hub will also provide a forum for debate and discussion around the activity of the community and of trading technology in the industry in general. Initial participants include: Intel, OnX, Etrading Software, Rapid Addition, OnixS, Gnodal, Mellanox, and TS Associates.
The group of vendors published an initial set of test results (Tests 1.0) in January 2012, which provided objective tests across FIX engines from Rapid Addition, OnixS and B2BITS. These have now been augmented with a series of tests with new participants (Tests 1.1) who have allowed comparison of server, network switch and NIC technologies and now represent a community of interested collaborating parties. These new results will be published via the social media hub during October and November 2012.
Intel fasterLAB and OnX iLABs lie at the heart of the community’s ability to design and prove the performance of technologies in combination to minimize latency and optimize cost and operational risk of deploying leading edge trading solutions.
“There is great progress being made by this initiative,” said Gordon Hughes, Global Sales Director of Financial Services Alliances, Intel Corporation. “FTTC demonstrates the relevance of infrastructure engineering to business solutions, and the value of the ecosystem to the technology supply chain.”
Following the publication of Tests 1.1, a subsequent series of tests (Tests 2.0) will be developed utilizing Etrading Software’s deep domain expertise in measuring and benchmarking high performance trading platforms. These tests will measure objectively the performance of key trading components, both at the hardware and software level, for latency sensitive FX business workflows with other asset classes soon to follow.
“We are excited to work with the FTTC as an initiative to serve the intersection of both vendor and end-user communities,” said Sassan Danesh, Managing Partner at Etrading Software. “The Tests 2.0 will provide objective performance benchmarks based on latency-critical business workflows. These benchmarks provide unique insight into how the latest technology innovations can be harnessed to improve the business efficiency of real-life trading platforms.”
The FTTC modus operandi is one of collaboration, shared resources enabling individual and teaming based commercial propositions. Intel and OnX lead FTTC with additional expertise and governance provided by Etrading Software.
“Teaming with Intel and Etrading Software and the growing number of participants in FTTC is a natural activity for us,” said Nigel Woodward, Business Development Director, OnX Enterprise Solutions. “Providing our clients with hosted solutions that offer reduced risk, flexibility, and cost savings are a core focus for us at OnX. As we look to add value as a technology provider to the trading industry, FTTC allows us to focus on the unique characteristics of this group and provide solution options to meet these specific needs.”
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About Etrading Software
Etrading Software is an established capital markets IT consultancy that facilitates and delivers both client-specific and industry-wide solutions. With its independent and trusted status across the market, Etrading Software is uniquely placed to enable the capital markets community to collaborate and innovate to address inefficiencies and ensure their continuing competitiveness. Founded in 2004, Etrading Software’s mission is to assist the global capital markets community to improve the business efficiency of high performance front office trading systems.
Intel (NASDAQ: INTC) is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world’s computing devices. Additional information about Intel is available at newsroom.intel.com and blogs.intel.com.
OnX Enterprise Solutions is a global enterprise data center solutions provider with a suite of end-to-end solutions including the industry’s leading Federated Cloud solution offerings. The company designs, builds and manages complete data center environments comprised of multi-vendor offerings in four core areas – Cloud & Managed Services, Technology Solutions & Professional Services, Digital Application Services, and Hardware & Software Solutions. Over the past 28 years, OnX has helped clients achieve exceptional business results that accelerate their growth and value. With global headquarters in Toronto, Canada and US based headquarters in New York, NY, OnX has a team of more than 600 IT professionals, revenues of more than $750 million, and clients and offices throughout North America and Europe. OnX is a privately held company and majority owned by Marlin Equity Partners. For more information, visit: www.OnX.com.
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