US trading venue Direct Edge has selected latency intelligence firm Correlix to provide its customers with information on the latency levels for its order execution and market data flow.
Direct Edge will use Correlix's RaceTeam service to provide real-time latency insight into its new EDGX and EDGA exchanges. RaceTeam is a venue-neutral service designed to help firms to manage and receive real-time latency intelligence information from various trading venues.
“As one of the few markets willing to provide latency details up to the matching engine, we are excited that through the Correlix RaceTeam service, our customers will have a valuable toolset to better optimise their experience on our new, state-of-the-art trading platforms,” commented Bryan Harkins, head of sales and strategy at Direct Edge.
Shawn Melamed, founder and president at Correlix said, “As Direct Edge introduced faster matching engine technologies into the market, we are seeing an increased demand from customers to better understand the latency behaviour on these new platforms in an effort to determine the best way to trade.”