Connamara Systems, LLC (Connamara), providers of end-to-end trading systems, market data solutions and development services, today announced the release of FIXpresso.
Based on the popular QuickFIX/J open source Java FIX library, FIXpresso enables proprietary trading firms and hedge funds to improve latency by more than 98% over QuickFIX/J with a standard deviation of under one microsecond. Developers can create new FIX applications using the familiar patterns from QuickFIX/J by making minimal code changes, thus enabling them to accelerate time to market and contain costs.
Connamara Systems spent nearly 2000 man hours to optimize FIXpresso, rewriting much of the QuickFIX/J code base to reduce the normal Java garbage collection activities. While it is not a direct replacement for QuickFIX/J, FIXpresso can be integrated easily with an existing QuickFIX/J application.
"Trading firms continue to strive for lower roundtrip latency," says Jim Downs, Founder and CEO. "The faster they can send, replace and cancel their orders and receive acknowledgement from the trading venue, the more effective their strategies will be. FIXpresso has been optimized to help them achieve this objective."
FIXpresso will be sold based on a monthly per instance license comprising documentation, sample applications (including a performance testing rig) and developer support. Connamara Systems is committed to ongoing development of FIXpresso and supporting applications. It is backed by the company's 11 years of FIX experience and involvement in the QuickFIX and QuickFIX/J open source projects.