The International Securities Exchange (ISE) today announced that it has introduced a new ISE Order Routing System (IORS2) for its options exchange.
The new, internally developed routing system connects ISE members using API or FIX connections to ISE's options exchange interface. In developing IORS2, ISE's software development team leveraged technology developed for other ISE applications, such as the PrecISE Trade front-end, to significantly decrease the latency of this critical application in ISE's exchange architecture.
Daniel Friel, ISE's Chief Information Officer, said, "With the introduction of IORS2, we have dramatically reduced latency for members connected to our options exchange. Additionally, we will have greater flexibility in maintaining the application and introducing future enhancements since we built the system using our own in-house development resources."
The IORS2 project adds to the ISE development team's extensive list of successful internal development projects for the options exchange, which includes the ISE market surveillance system, complex order trading functionality, and PrecISE. ISE also designed and built the ISE Stock Exchange completely in-house.