Fixnetix, global managed services provider for ultra-low latency market data, trading and risk control, announced today the launch of ix-eCute, the pre-trade risk FPGA microchip for ultra-low latency execution for the Canadian cash markets.
Fixnetix is also pleased to announce the leading Canadian investment bank has contracted for iX-Eye, the risk command and control graphical user interface (GUI) integrated with the new FPGA iX-eCute. This solution is now live and trading markets TSX, TMX Select, TMX venture, Alpha, Matchnow and Chi-X Canada.
"Fixnetix has earned strong credibility from the sell-side community for providing the fastest most seamless financial trading solutions worldwide," says Hugh Hughes, Chief Executive of Fixnetix.
iX-eCute, has been designed to meet Canadian regulatory requirements directed by the proposed Canadian Securities Administrators National Instrument 23-103 rule which introduces specific obligations for direct electronic access to Canadian marketplaces.
"iX-eCute empowers the broker to be the leader in transacting DMA/DSA flow within regulatory boundaries, whilst guaranteeing the security of the marketplace for all participants with zero latency impact on orders," says Dr. Marcus Perrett, Head of Development at Fixnetix. "Our leading Canadian customer is now fully compliant with the latest IIROC-mandated regulation using our FPGA technology. This installation represents the largest "managed service" FPGA deployment in the world."
"We understand the challenges faced by leading investments banks, markets makers, hedge funds and proprietary trading firms and the time-sensitive need to respond to regulatory changes," says Hughes.