Terra Nova Financial LLC (OTCBB: TNFG), a specialized financial services firm for trading professionals, has selected SpryWare LLC, to implement their fully managed ticker plant The Market Information Server (MIS) to enhance the speed and flexibility of the trading platforms developed by Terra Nova's affiliate, Tradient Technologies, Inc.
MIS is SpryWare's ultra low latency market data solution, which takes in direct exchange feeds, normalizes the data into a standardized format, organizes the information into a database, and distributes the normalized data through third party direct market access applications.
The alliance with SpryWare was developed to deliver on a key component of the Tradient product roadmap. The latest release of the Tradient Pro platform, which launched on May 19, 2008, incorporates SpryWare's data feed technology in response to emerging customer needs for speed, trading in non-US markets such as Canada, and growing transaction volumes.
"Terra Nova chose SpryWare as a strategic move dovetailing with the launch of our newly re-branded division for financial technology development—Tradient Technologies," said Michael Nolan, President of Terra Nova. "We sought to develop a relationship with a proven data provider we can grow and collaborate with. Our customer base and trade volumes have expanded into new markets like Canada, so working with a firm that can help us address these trends in a flexible manner is very important."
The SpryWare solution comes with many benefits to Terra Nova. Because The Market Information Server operates as a fully managed ticker plant complete with flexible APIs, Terra Nova is able to customize the direct data feeds funneled into Tradient Technologies platforms. Because the ticker plant reacts quickly to market changes and handles administrative matters such as symbol maintenance, Terra Nova is able to focus resources on core trading platform technology development. Built from the ground up to be multi-core and multi-processor optimized, SpryWare's solution requires a much smaller hardware footprint than seen with other market data applications, while providing higher throughputs.
"Professional traders place a premium on accuracy, and this requirement guides Tradient's product roadmap," said Kevin Ott, Managing Director of Tradient Technient Technologies. "The Ultra Low Latency solution from SpryWare is a good fit with the need for sub millisecond delivery without sacrificing quality. SpryWare's easy to configure APIs also helped Tradient implement the new trading platform quickly, which meant getting the solution to clients faster."
"SpryWare is extremely excited about working with Terra Nova," said SpryWare Director of Sales Dan Curry. "Terra Nova takes full advantage of what we consider to be our strong points, including low latency, smaller hardware footprint and delivery of higher throughput smarter—not just reacting to higher market volumes."