RainMaker chooses 29West messaging for trading platform

Source: 29West

29West, the market leader in low-latency messaging solutions, today announced that RainMaker Trading, who provides cutting edge, end-to-end systematic trading solutions to sophisticated professional trading organizations, has chosen 29West Ultra Messaging for the Enterprise (UME) to power its order routing and market data dissemination systems.

Tom Brennan, Director of RainMaker Trading, said, "With the current volatility in the markets, we have come to rely on UME not only for speed but stability as well."

According to Brennan, RainMaker's order routing and market data dissemination systems are built on top of 29West's UME product, allowing for reliable sub-millisecond delivery of information to all system components. UME provides a stable framework messaging layer that allows RainMaker to focus on expanding and enhancing its systems.

RainMaker is known for its advanced execution platforms, and proprietary, customized trading software. The firm provides critical infrastructure, unique ultra low latency market data feeds, algorithmic trading tools, direct market access and professional software consulting services.

29West President and founder Mark Mahowald said, "In the past two years, we have seen broad market adoption of our guaranteed messaging solutions for mission critical applications like order routing and order execution systems. From powering electronic market making applications to entire exchanges, the breakthrough Parallel Persistence(r) design provided by UME offers our customer dramatically lower latency with standard off-the-shelf hardware and far greater scalability. We're excited to help RainMaker achieve their goals. This type of end-to-end system is a big growth market for 29West worldwide."

Adding that RainMaker is one of 25 new direct customers closed so far in 2008, Mahowald said, "Despite the current market conditions, 29West is still growing strongly and is profitable. We continue to see growing demand for our enterprise-wide messaging solutions as customers look for ways to optimize their systems performance in these difficult conditions."

"RainMaker has released its RainMaker Direct end-to-end solution in live production, successfully implementing our complete suite of trading products," Brennan said. "We will be happy to compare our latlatency metrics with any competitive solution provider in the marketplace.

Professional trading organizations grappling with the buy vs. build dilemma can now utilize RainMaker's complete end-to-end solution and integrate their core proprietary trading strategies into the RainMaker system." He added, "Firms will gain relief from the onerous costs of infrastructure development and support and can refocus their finite resources on growing their core strategies."

Comments: (0)