ITRS Group plc announced today the launch of its Feed Latency Monitor (FLM). ITRS is the leading global provider of predictive, real-time monitoring and proactive application performance management. FLM was developed as a result of client demand in the world's financial community and is a natural extension to the company's Market Data Management and Monitoring Suite.
The real-time analysis for relative latency generated by FLM provides invaluable real-time operational information, which can also be used as an optimisation input into trading platforms and automated trading engines.
The effectiveness of order management systems will be vastly improved by using feed latency metrics as triggers for redirecting market data sourcing. Current and accurate market data is a pre-requisite for high frequency, algorithmic and other high-volume, high-speed forms of trading and risk management.
Misha Kipnis, ITRS CTO, commented, "FLM is a light-footprint software solution which supports rapid, enterprise-wide deployment. It analyses market data distribution performance on a local and wide-area basis enabling operations teams to redirect market data sourcing away from under-performing feeds. The analysis is based on real-time performance as measured against a reference feed; FLM quickly identifies those vital external price feeds which are running slowly and allows data sourcing to be redirected before trading processes are impacted. The analysis is displayed on the Geneos Dashboard for easy access and visibility."
Latency monitoring is essential for ensuring that incoming feed handlers are delivering the performance necessary for trading and risk management applications. FLM monitors the real-time relative speed of market data as updates arrive from internal and external sources, such as exchanges, vendors and trading venues. The values for the incoming data fields from a user-defined list of instruments are compared [for each feed] against a reference data feed; the time intervals between matching updates for the different feeds are calculated to provide a relative latency between feeds.
By directly subscribing to the monitored platform's incoming market data feed, FLM can calculate the relative latency of this feed compared to a reference market data feed. It also identifies the relative latency between both separate and co-mingled data feeds.