Fixnetix, a subsidiary of CSC (NYSE: CSC) that provides front office managed services, has launched its iX-eCute Zero Latency (ZL) gateway, according to a Fixnetix statement.
The iX-eCute ZL is a risk management and trading portal that helps support electronic trading capabilities for a number of venues, including investment banks, prime brokers, hedge funds, and proprietary trading firms.
The ZL bolsters an existing technology that is prevalent in Fixnetix’s iX-eCute gateway, expanding the latitude of risk management via 40 sovereign risk checks, in line with several leading global regulators’ requirements, including the US’ Securities and Exchange Commission (SEC), IIROC and ASIC.
2020 Global Market Outlook: How the “Known Unknowns” Can Affect CurrenciesGo to article >>
More specifically, the ZL solution helps allow for order submission and risk checking in a more streamlined time frame, especially when weighed against other independent means that exist today for buy and sell-side users. Indeed, many traditional alternatives have relied on passive order inspection, which have a higher predisposition to incurring latency issues.
According to Marcus Perrett, Director of Technology and Development at Fixnetix, in a recent statement on the ZL launch, “For the sell-side, ZL offers complete compliance and regulation adherence without ‘bump in the wire’ latency. For the buy-side, ZL offers the ability to place orders faster than in-house ‘best of breed’ technologies and maintains broker-sponsored market access. In addition, by design iX-eCute ZL is protocol agnostic which allows for deployment by asset class or geographic region and negates the need for knowledge of a specific exchange underlying API which dramatically reduces time to market and maintenance overhead.”
“With the release of the next generation iX-eCute ZL, Fixnetix has taken another giant leap towards helping the market place negotiate an increasingly complex, regulated and competitive trading landscape. Fixnetix technology, now underpinned with CSC’s global reach and presence mean that iX-eCute ZL will soon be powering a significant percentage of the worlds’ latency sensitive trades,” added Hugh Hughes, VP and General Manager of Fixnetix in an accompanying statement.