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Chi-Tech selects 29West for MarketPrizm feed handler messaging

17 December 2009  |  1750 views  |  0 Source: Chi-X Global Technology

Chi-X Global Technology, LLC ("Chi-Tech"), the technology services unit of Chi-X Global Inc., today announced it will employ messaging technology from 29West in the low-latency market data delivery infrastructure of the company's MarketPrizm service.

Chi-Tech's MarketPrizm business provides a comprehensive trading infrastructure solution, powered by an optimized bespoke network linking 19 markets and locations. Designed as a European trading "ecosystem" for use by banks and investment firms, MarketPrizm provides neutral, high speed access to the region's market centers, low latency market data and a range of third-party applications and services. MarketPrizm was created as a one-stop solution for data, services and connectivity to the European markets, offering trading firms of all sizes a cost-effective, high-performance infrastructure for all types of electronic trading.

29West Messaging, which powers financial applications in over 130 deployments worldwide, is a fast, efficient and lightweight system designed to serve as a messaging fabric for the next generation of high-performance, high-volume applications.

"We're excited that 29West Messaging will help power the low-latency performance of market data delivery in MarketPrizm," said Mark Mahowald, President and Founder of 29West. "Lowering system latency delivers immense value to firms trading in today's markets, and 29West is happy to bring our unique expertise in this area to help provide competitive advantage to Chi-Tech's MarketPrizm customers."

"We try to partner with specialized providers where it makes sense for our clients and our development strategy," said Richard Leung, Chi-Tech's Chief Technology Officer. "In this case, we selected the 29West product for its demonstrated performance and the fact that many banks and trading firms have already implemented 29West products in other parts of their infrastructures."

MarketPrizm's range of connectivity options, market data feeds and component applications are delivered via a flexible framework that allows clients to select the precise solution that meets their business and technology requirements.

MarketPrizm is a Chi-Tech business line focused on providing trading infrastructure and services to banks, funds, and other investment and trading firms. In a separate business line, the company also provides trading technology platforms to exchanges and market centers.

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