OMX partners with Cicada for Genium low-latency feed

Source: OMX

OMX, the leading expert in the exchange industry, today introduces Genium Market Info, a low latency distribution system for market data.

Raising the bar on speed and flexibility, Genium Market Info includes the management functionality needed to serve as a business development tool for new and innovative information services.

Genium Market Info is part of Genium, the new exchange technologies from OMX, that bring new dimensions to managing the transformation of the exchange industry. To develop the solution, OMX has acquired a license for technologies from Cicada, a leader in providing software solutions for financial data management.

"There are great prospects to better leverage information services to improve market quality, grow revenue and gain competitive advantage. With automated and algorithmic trading as significant market forces, the speed at which information is needed has increased accordingly. Genium Market Info empowers exchanges in seizing new opportunities and delivering market information with ultra-low latency", says Markus Gerdien, President, Market Technology, OMX.

As part of the Nordic Exchange's plans for Genium, OMX will implement Genium Market Info as the new distribution facility for consolidated market data to information vendors. The new solution will significantly shorten time to market for new services like disseminating data from new sources. The time plan and implementation details will be decided following vendor consultations.

"Success in the financial markets is closely linked to the ability to obtain the right information in the right format, as quickly as possible. Accordingly, OMX Nordic Exchange recently announced Genium FIX, providing low latency access to raw market data. With Genium Market Info we now take further steps to reduce latency and introduce new information services for our customers", says Hans-Ole Jochumsen, President, Information Services and New Markets, OMX.

Genium Market Info incorporates core elements of the Cicada Composer system. As part of the agreement Cicada will provide OMX with sales support, development resources and ongoing system support. Genium Market Info is designed to work with all OMX trading solutions and is available now.

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