Source: STAC Council
Bon Trade Solutions (BTS), a leading provider of electronic trading solutions, pre-trade risk systems, FIX services, and market-center connectivity today announced that it has joined the STAC Benchmark Council(TM) to contribute to the STAC-E1 Benchmark(TM) specifications.
Facilitated by the Securities Technology Analysis Center, the STAC Benchmark Council is a global industry body consisting of leading trading organizations and vendors that develops standard benchmarks for trading technology. Trading organizations, not vendors, vote on the STAC Benchmark(TM) standards, keeping the tests focused on real business needs.
STAC-E1(TM) is the first industry initiative to define standard performance benchmarks for trade-execution technology such as gateways, order management systems, smart order routers, and matching engines. The STAC-E1 working group consists of leading brokerages, marketplaces, proprietary trading firms, and vendors. The group represents a range of asset classes and geographies. STAC-E1 will complement other STAC Benchmark standards in domains such as market data and messaging.
Victor Tartaglia, Managing Director of Bon Trade, commented: "STAC-E1 benchmarks will be very important for firms that depend on electronic trading systems, as the demand for lower latency and higher performance continues to increase. BTS was an early advocate for the STAC Benchmark Council to turn its attention to trade execution. Now that it has, we are very pleased with the progress so far. We look forward to using the emerging benchmark standards to demonstrate the performance leadership of our product line."
Peter Lankford, Founder and Director of STAC, said: "We are pleased to have BTS's help in bringing STAC Benchmarks to trade-execution technology. Customer-driven benchmark standards are the best way for vendors and customers to compare the performance of their systems. Such standards improve how customers choose technologies or make buy-vs-build decisions, while shortening the sales cycle for vendors."