Fixnetix launches ix-direct for low latency transmission of direct market data

iX-Direct, a data solution designed to reduce latency, was unveiled yesterday by market data telecommunications provider Fixnetix. Delivered over a global fibre network, iX-Direct features Ethernet connectivity and does not require data feed handlers or servers to be installed on-site. "With the continuing rise of al

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iX-Direct, a data solution designed to reduce latency, was unveiled yesterday by market data telecommunications provider Fixnetix. Delivered over a global fibre network, iX-Direct features Ethernet connectivity and does not require data feed handlers or servers to be installed on-site.

“With the continuing rise of algorithmic trading and the drive to lower the cost of execution, financial institutions are demanding data faster, cleaner and with more depth,” says Hugh Hughes, CEO, Fixnetix. “Until now they have had to either build out expensive infrastructures requiring large capital expenditure, internal support and maintenance, or accept traditional incumbent data vendor offerings that do not match the requirements of today’s marketplace,” he adds.

With the introduction of the Markets in Financial Instruments Directive (MiFID) in November 2007, there is a great need for firms to source, blend, capture and publish data. “Fixnetix can aggregate and map multiple iX-Direct feeds in real time into a single consolidated order book to enable financial institutions to comply with their best execution obligations,” says a representative of the firm.

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