Source: GigaSpaces Technologies
GigaSpaces Technologies and TraderTools LLC, both headquartered in New York, announced today they have signed an OEM agreement for the integration of GigaSpaces' infrastructure software into TraderTools' STPlatform order management and data distribution solution for the electronic Foreign Exchange (eFX) financial services markets.
Under the terms of the agreement, GigaSpaces' platform for the development of high-performance, low-latency, distributed enterprise applications is to be embedded in TraderTools' .NET-based STPlatform. STPlatform is a comprehensive Straight-Through Processing platform designed to facilitate more profitable trading in a variety of Foreign Exchange (FX) and Money Market (MM) instruments. It includes components for streaming executable rates, managing a global order book, executing FX and MM deals online and providing a real-time messaging architecture and an in-memory data grid. By integrating the GigaSpaces infrastructure software, TraderTools expects to shorten development time while providing differentiating capabilities to STPlatform, such as enhanced scalability and performance. Both companies are confident that the combined solution will meet the needs of large financial institutions experiencing rapid customer growth.
TraderTools CTO, Baruch Chasid, said: "The pairing of our world-class product offerings results in an eFX software solution with unprecedented scalability, performance and application efficiency. Our joint development represents a new level of innovation in the financial software industry, including powerful caching, messaging and geographically-distributed computing capabilities."
"TraderTools and GigaSpaces share much in common," said GigaSpaces CTO Nati Shalom. "Both companies are leaders in their respective fields and boast as customers some of the world's largest financial institutions. Together we intend to deliver a solution that sets new industry standards for performance and development flexibility tailored for the exacting financial services sector."