Nasdaq OMX has subscribed to latency monitoring firm Correlix’s RaceTeam service, which will allow the exchange group to provide its customers with real-time, independent trading and data speed information for intraday and post-day analytics.
The exchange group will initially provide latency measurements for the Nasdaq Stock Market, Nasdaq OMX’s primary US equities trading platform. Through the RaceTeam subscription, Nasdaq Stock Market trading participants will be able to monitor and analyse real-time latency information associated with their orders, executions and market data. Trials of the service will begin in the first quarter of 2010.
The group has plans to expand the service to offer latency information for other Nasdaq OMX markets globally.
“This new service addresses an important customer need, as latency has become a critical means to compete and craft trading strategies,” said Eric Noll, executive vice president of Nasdaq OMX, in a statement. “Through the RaceTeam service we offer objective latency benchmarking that can help customers improve on trade execution.”
In addition to its US equity trading platforms, which include the Nasdaq Stock Market and Nasdaq OMX BX, Nasdaq OMX operates exchanges in the Nordic and Baltic regions, and owns Nasdaq OMX Europe, a pan-European multilateral trading facility.
The group has announced plans for a third US equities trading platform, which is scheduled for launch in the second half of 2010.