Companies partner to measure and minimise latency in market data and trade execution

Auckland, New Zealand and New York, NY: Endace Limited (LSE/AIM: EDA), a world leader in network monitoring solutions, today announced that Correlix, a venture-funded Wall Street startup, has selected Endace NinjaBox® appliances and Endace Data Acquisition and Generation (DAG®) interface cards as the foundation technology for its Latency Intelligence™ solution.  The Correlix software pinpoints and quantifies sources of latency which enable customers to reduce milliseconds of delay in obtaining and acting on market data.

“Whether you are on the buy-side, sell-side or an exchange firm, effectively managing a one millisecond delay can have huge impact on your profit and loss,” said Shawn Melamed, Founder and CEO of Correlix.  “In today’s fast-paced trading environment, reducing trading latency is critical to seize available market opportunities, increase revenues, retain customers, and gain competitive advantage.  The robust network capturing hardware from Endace coupled with our advanced latency analytics software enables us to create a truly complete latency picture of trade execution and market data flows with microsecond accuracy in real time – without introducing additional delays which make other latency measurement techniques counterproductive.” 

Melamed credits the combination of entirely passive Endace monitoring hardware and the company’s proven high-throughput capabilities as key to the success of Correlix algorithms to detect and quantify sources of latency in high-volume trading environments.  “The NinjaBox DAG cards timestamp every packet of market and trade execution data which our software correlates with timestamps that we insert at various observation points throughout the trading cycle.  By tracking the time consumed during each step, we give customers a complete latency map which reveals opportunities for them to optimise their internal applications, get physically and logically closer to their sources of market data and trading systems, and tune their trading algorithms to act more quickly.”

“The Correlix Latency Intelligence solution is a comprehensive latency monitoring and management system that takes advantage of Endace’s precise timekeeping capabilities,” said Stephen Gleave, VP of Marketing at Endace.  “Our ability to supply granular message timestamps to partner applications is not only changing the landscape of measurement solutions for financial trading systems, but also cementing our position as a key monitoring component in high-performance computing clusters.  Wherever there is a need to accurately measure elapsed time in data networks, Endace is increasingly featured as the Official Timekeeper of this low latency race.”