Miami exchange selects Cisco backbone for proposed options mart
17 August 2012 | 2304 views | 0
Miami International Securities Exchange, LLC ("MIAX") announced today that it had selected Cisco's ultra-low latency intelligent network infrastructure for the trading platform of the MIAX Options Exchange, a fully electronic options exchange planning to commence operations in late September 2012, subject to SEC approval.
MIAX's experienced technology team worked closely with Cisco Channel Partner, Continental Resources Inc., to develop an intelligent networking infrastructure to meet the unique demands of a high-speed trading environment. As a result, the MIAX Options Exchange trading platform was designed from the ground up to address the highly secure, functional and high-performance demands of the derivatives market.
Being built on Cisco's networking infrastructure will enable the MIAX Options Exchange trading platform to provide extremely high-performance, best in class customer interfaces for a better customer experience, and state-of-the-art monitoring, systems security and automated continuous testing to ensure high reliability of network infrastructure. In addition, Cisco's networking infrastructure will facilitate co-location in dual data centers, and allow MIAX POP's (Point of Presence) to be available for routing to a third disaster recovery data center. It will also enable a software architecture that results in minimizing the demands on power, space, and cooling while allowing for rapid scalability, resiliency and fault isolation.
"After a rigorous evaluation of industry-leading vendors and testing in our data center, we found that the technological capabilities and roadmap offered by the Cisco Nexus 3000 ultra-low latency network infrastructure were perfectly aligned to support the high-speed trading requirements of the MIAX Options Exchange," said Frank Ziegler, Senior Vice President -Systems Infrastructure at MIAX. Ziegler further commented, "The Cisco Nexus 3000 and Nexus 5000 based intelligent network infrastructure created a stable, reliable network, which is essentialto the value that the MIAX Options trading platform will bring to the traders on our exchange."
"Cisco is focused on transforming how the network drives business innovation. We developed the Cisco Nexus 3000 switching series to provide high-speed trading environments with a highly secure, ts with a highly secure, high-performance, ultra-low latency reliable network platform," said David Yen, senior vice president of Data Center Group at Cisco. "By delivering Cisco's intelligent high performance network infrastructure as part of its options trading platform, the MIAX Options Exchange is providing a trading platform with the proper protections, latency, and throughput to give its trading community a competitive advantage."
Cisco Nexus 3000 and Nexus 5000 Series Switches will enable the MIAX Options Exchange trading platform to offer protection, high-performance and exceptional throughput to deliver a high quality customer experience. In addition, Cisco Nexus 3000 Series Switches offer Layer 2/Layer 3 switching at ultra-low latencies to deliver an extremely high performance infrastructure for high-speed trading workloads, and in the process consume less power and support multiple connectivity, which will reduce the cost and size of the MIAX's data center footprint.