Today 29West and the Chicago Stock Exchange (CHX) announce that 29West's Ultra Messaging products have been chosen for the enterprise messaging backbone for the CHX.
This includes both 29West's LBM and UME messaging products.
CHX is a United States National Market System participant offering the ability to transact business in NYSE, NYSE Alternext and NASDAQ listed issues. With a robust matching engine and the CHXConnect routing network, CHX customers can choose immediate delivery to the CHX matching engine or order-routing to FINRA Market-Makers and CHX Institutional Brokers who are able to provide customized order handling solutions for their clients. Eligible orders resident on the CHX enjoy immediacy of display, execution and cancellation with full exposure to all National Market System participants. The CHX system offers functionality beyond the simple matching of orders and is an ideal venue for hedge funds, options market markers, quantitative, professional and active individual traders that require immediate and automated execution, while continuing to serve the needs of traditional broker-dealer clients and the individual investors they represent.
"Last year, we decided to move to 29West for its impressive performance" said John Kerin, CTO at CHX. "As a direct result of the switch, we've also gained incredible flexibility and scalability, along with a marked reduction in the server footprint we need to support our messaging backbone. We have already deployed LBM for all our market data distribution, and we are in the process of rolling it out, along with UME, across our entire enterprise."
29West's LBM pioneered the nothing-in-the-middle next-generation approach to messaging in 2004, and has continued to be at the forefront of the low-latency performance race ever since, being deployed by industry-leading firms like CHX.
29West's UME has brought the unique Parallel Persistence(r) design to guaranteed messaging, and is used as the basis for matching engines inside exchanges, smart order routers, options market making systems, FX pricing and trade buses, and algorithmic trading systems.
"We're very excited to add CHX to our long and growing list of financial customers," said Mark Mahowald, President and Founder of 29West. "CHX is an excellent example of how 29West Ultra Messaging can simplify the network and make the system more robust and easily scaled at every level."