Gissing talks up multi-vendor contribution system ConteX 4

Source: Gissing Software

Gissing Software, solution specialists in the routing and transformation of real-time market and trade data, today announced the successful uptake of Gissing ConteX 4, with roll-out to six customer sites already confirmed.

Gissing ConteX 4 is a complete redesign of the existing Gissing ConteX product. A completely new architecture has resulted in huge performance, efficiency and manageability gains, with major new features also added. Gissing ConteX 4 is now generally available following the successful completion of an extensive beta testing programme earlier this year. One of the customers to confirm it has signed up to use the new system is Mitsubishi UFJ Securities International (MUSI).

Greg Bufton, Director, Co-Head of Quantitative Desk, Rates Trading Group, MUSI said: "Following rigorous testing we have been very impressed with the stability and highly increased market data throughput of Gissing ConteX 4. As the volumes of price quotes we need to publish to our sales people and traders increase, and as our trading strategies become more complex, we need an even more robust architecture to securely handle, throttle and publish updates on our rates trading desks. Gissing ConteX 4, with its new derived fields and data validation features, offers MUSI a way to do this reliably and in the most efficient way as we look to further expand our business."

Gissing ConteX is the world's most widely-used real-time multi-vendor contribution system and is in use at over 60 customer sites worldwide. It allows customers to contribute price data to multiple data venues with minimum latency and maximum reliability and manageability. First unveiled at the SIFMA Technology and Management Conference last year, Gissing ConteX 4 offers customers massive improvements in performance, as well as extensive new functionality, dynamic system configuration and better operational monitoring and reporting capabilities.

In extensive benchmarking tests Gissing ConteX 4 has demonstrated:
  • Extremely low latency - the software offers the ability to process data updates end-to-end in just 0.1 milliseconds. While competitive edge depends on delivering data rapidly and accurately to market data vendors, thhe speed of the vendor systems themselves will vary. Gissing ConteX 4 guarantees the lowest delay in contributing the data to those vendors.
  • High throughput - using modest, low specification Wintel server hardware Gissing ConteX 4 processed in excess of 6.2 billion updates per day. This represents a massive, seven-fold increase in data handling efficiency compared to ConteX 3 - and is considered crucial as automated pricing, algorithmic trading systems, and the growth in derivative instruments continue to generate ever more data.
  • Conflation efficiency - the software actively manages conflation and allows data to be throttled for prioritisation, with tests showing it can conflate data 10 times more efficiently than ConteX 3. With the ability to contribute prices often limited by capacity throttles applied by the vendors, conflation is essential in making sure that customer data is kept up to date internally and the latest prices are published whenever vendor capacity is available. Gissing ConteX 4 actively manages this process using one tenth of the CPU processing power that was required by ConteX 3.

    Mike Vieyra, CEO, Gissing Software, stated: "All customers that have reviewed and tested ConteX 4 have been extremely impressed by the massive improvements it offers in terms of reduced latency, increased throughput and processing efficiency - key factors in helping them get their prices to market faster and compete more effectively. The move to our next-generation ConteX 4 solution represents much more than a simple upgrade - and the impressive uptake from our customer base to date shows how well it has been received."
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