Rival Systems, a Chicago-based provider of trading and risk management software, today unveiled a new, integrated tick-to-trade solution in partnership with Algo-Logic Systems, a provider of FPGA ultra-low latency trading solutions. This partnership brings together the best in Algo-Logic’s FPGA hardware with Rival’s trading and algorithmic strategy development software.
The first of its kind, the offering allows futures and options traders to monitor market activity, identify trading opportunities and execute trades with sub-microsecond latency that is typically available only to the largest trading firms that have expensive internal infrastructures. Moreover, the integrated solution also provides Rival’s users with Algo-Logic’s ultra-low latency Tick-to-Trade (T2T) System for the CME.
The agreement marks the first time that traders can access sub-microsecond latency on some types of trades through Algo-Logic’s FPGA trading system. It’s also the first time that Rival’s software is bundled with the Field Programmable Gate Arrays (FPGAs) silicon chips that can be re-programmed to desired application or functionality requirements after manufacturing, eliminating the need for using the Application-Specific Integrated Circuit (ASIC) chips.
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Rival helps provide a number of different trading solutions, with its latest extension of connectivity helping cater to several markets. In particular, this also helps clients streamline their trading and management over multiple exchanges.
Rival and Algo-Logic have begun sharing details with clients, and they expect the integrated offering will be ready for deployment in the second quarter.
Rival Systems CEO Robert D’Arco said: “At Rival, we’re always looking for new ways to help our users compete in the market. We reached out to the Algo-Logic team and are thrilled we were able to develop a turnkey offering that further enhances our platform. The seamless integration will allow users running the Rival Electronic Eye, Auto-Quoter and Rival API to leverage the accelerated solution automatically.”
Algo-Logic CEO John Lockwood added: “Trading firms are always facing that ‘build vs. buy’ decision, and all but the very largest firms have to wonder whether the huge investment in infrastructure and time will pay off when they choose to build their own trading system from scratch. With this integration with Rival, they get the best of both worlds – a pre-built, easy-to-enable solution with the features they want, without an upgrade to their infrastructure.”