Trading systems operator Rapid Addition has launched its next generation electronic trading messaging platform, which aims to increase flexibility for firms adapting electronic trading workflows.
Known as RA Platform 3.0, the electronic messaging protocol is asset-class agnostic and supports order-driven and quote-driven markets. Its modular framework also allows users to define and implement their own rules for risk, smart order routing and other trading processes.
Combining the firm’s FIX engine for low-latency performance with the ability to also deploy proprietary FPGA technology, Rapid Addition said that the new platform was engineered to help both buy- and sell-side clients attain a multi-asset electronic infrastructure through a single platform.
“Platform modernisation is on everyone’s agenda as electronification spreads to all asset classes. Firms struggle with the trade-offs between cost, time to market, and competitive differentiation when deciding whether to buy or build,” said Mike Powell, CEO of Rapid Addition. “Our aim is to provide the industry with a scalable foundation technology that takes care of common requirements, alongside a flexible framework that helps firms tailor services to meet the specific needs of their target clients.”
RA Platform 3.0 can also be implemented either on-premise, in the cloud, or across hybrid environments, which the firm said can help firms manage costs of ownership as well as increase flexibility for users to adapt as technology strategies evolve.
Rapid Addition added that the new system was designed in collaboration with major financial institutions looking to provide a high-performance core electronic messaging platform. In December, US investment bank Citi moved to integrate two systems from Rapid Addition to support its growth in electronic currency trading.