MPS Global Securities, an independent agency-only broker dealer, announced today that it has launched an ultra low latency solution for high volume trading that is designed to be immediately compliant with the new SEC Rule 15c3-5 banning "unfiltered" or "naked" access.
While meeting the new SEC pretrade risk requirements, the platform, known as MPSG LLS, seamlessly integrates risk controls and order management with a non intrusive trading (FIX) API. The FIX API resides next to the clients trading environment to minimize latency and maximize performance.
"The SEC action on November 3rd, 2010 reflects a regulatory and political trend towards greater control by broker dealers of the orders and trades being delivered to the market," said Brian Mulcahy, a Managing Partner at MPS Global Securities. "We at MPS believe we offer our clients a best in class solution that complies with the SEC Rule 15c3-5 regulatory requirements while keeping latency at an absolute minimum."
Powered by Bon Trade Solutions' Market Centurion Risk Product, MPS offers professional and institutional trading firms pre-trade risk controls and a market access API to the major US Equity Exchanges, with latency measurements in the microseconds.
"Our Market Centurion product provides a cost effective pre and post trade risk management solution. The combination of flexible deployment, low latency and cost make this a very compelling offering to the industry," stated Victor Tartaglia, Managing Director of Bon Trade Solutions. "We welcome MPS Global Securities initiative to extend the benefits of our Market Centurion pre trade risk management solution to its customers."
Giles Castle, Head of Electronic Trading Sales for MPS, added "As the needs of our clients and the regulatory environment continue to evolve, it is crucial to work with market leaders in the risk and technology space. Bon Trade Solutions allows us to provide our new clients with a market leading solution, and allows our existing client base to conform to the new SEC rules with a minimum of disruption to their business continuity."