Correlix Inc., the provider of the industry leading RaceTeam™ service for monitoring, measuring and reporting order and market data flows in real-time, today announced that BATS Global Markets (BATS), a global operator of cash equities and derivatives securities markets, has joined the Correlix RaceTeam latency measurement service.
The service will be rolled out this year to provide independent insight into all BATS US-based markets, including the BATS Equities Exchanges (BZX Exchange and BYX Exchange) and BATS Options. The service will provide latency data measured by Correlix as a complementary service to BATS' own latency monitoring service launched earlier this year.
"We are excited to be part of Correlix's RaceTeam latency measurement service as we believe this is a service that makes markets better by increasing transparency," said Chris Isaacson, Chief Operating Officer at BATS Global Markets. "Providing the trading community with innovative latency tools such as this enables them to optimize their trading strategies and improve their execution."
"We are excited to have BATS join our RaceTeam service and enabling us to further extend our industry standard market coverage. RaceTeam clients will be presented with a consolidated latency view from all major US Equities markets," said Shawn Melamed, Founder, President and CTO at Correlix.
RaceTeam is an objective, venue-neutral service that enables trading firms to manage and receive objective real-time Latency Intelligence information from various trading venues. The RaceTeam service facilitates greater trading latency insight into each transaction and leads to optimized trading strategies, improved trade execution and streamlined inter-party latency problem resolution.
Together with the BATS Exchanges, Correlix RaceTeam service will provide latency data for all major US Equities markets. BATS latency data is expected to be available on RaceTeam later this year.