IS Prime reports today that it achieved a meaningful milestone last week, with its average fill time across all orders dipping below 10 milliseconds for the first time on Monday 23rd November. This comes just after the firm celebrated its first anniversary since its establishment earlier this month.
As for specific figures, the average internal round turn fill time across all client orders executed with IS Prime on Monday 23rd November was 8.4 milliseconds, across nearly a quarter of a million trades transacted. Going forward, IS Prime says that a sub 10 millisecond internal latency is a sustainable benchmark for it.
IS Prime positions itself as a leading member of the Prime of Prime segment of the market, with a heavy focus on technology. It explains that these new metrics are an indication of the speed and robustness of the systems that have been developed and optimised by its team.
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Jonathan Brewer, Managing Partner of IS Prime, commented: “We are very proud with these statistics which I believe are impressive in isolation, but when you consider that we have achieved this within the first 12 months of our business, it is a real credit to our team.
Most clients only focus on spreads and commissions when assessing a counterparty, but latency and execution quality are increasingly being actively monitored by our counterparties, because it is naturally a critical component of the service that they are able to provide to their clients.
We are extremely pleased with this latest roll out and remain committed to further enhancing the trading experience for clients, old and new.”
IS Prime is also marking its first anniversary by moving to new office premises at 55 Baker Street, a landmark building in the heart of Central London. In July, the firm extended its PoP service and front and back end offering to clients via a white label offering.