The International Securities Exchange (ISE) has introduced a new order routing system for its options exchange.
ISE Order Routing System (IORS2) was developed internally by ISE’s software development team and connects ISE members to its options exchange interface via API or FIX connections.
Technology for IORS2 has been brought across from other ISE applications such as the PrecISE Trade front-end with the aim of decreasing the router’s latency in ISE’s exchange architecture.
“With the introduction of IORS2, we have dramatically reduced latency for members connected to our options exchange,” said Daniel Friel, ISE’s chief information officer, in a statement. “Additionally, we will have greater flexibility in maintaining the application and introducing future enhancements since we built the system using our own in-house development resources.”