Nasdaq OMX (NASDAQ:NDAQ) announced today that it will expand the real time latency measurement service provided by Correlix to its Nordic marketplaces.
The service will allow NASDAQ OMX Nordic exchanges' members access to independent real-time latency measurement information for intraday and post-day analytics.
The Correlix RaceTeam latency monitoring service will provide NASDAQ OMX Nordic members with full latency transparency of order execution and market data flow in real-time. The independent latency measurement information provided by the service will enable members to better leverage latency information for optimized trading strategies.
Hans-Ole Jochumsen, President NASDAQ OMX Nordic said, "This new service addresses an important customer need, as latency has become a critical means to compete and craft trading strategies. Through expanding the RaceTeam service, we now offer also to our Nordic members objective latency benchmarking that can help them improve trade execution."
"We are very excited to welcome NASDAQ OMX Nordic to the RaceTeam service as the first exchange to offer real-time latency transparency in Europe", commented Shawn Melamed, Founder, President and CTO at Correlix. "As more market exchanges as well as capital market firms understand the importance of monitoring and measuring latency information in real-time, our RaceTeam service continues expanding into new markets".
NASDAQ OMX initially launched RaceTeam latency measurements for the NASDAQ Stock Market earlier this year, and they will be available for NASDAQ OMX Nordic members.