SpryWare, a premier provider of ultra low latency feed handlers and direct market data technology, today announced a strategic partnership with Eesat, a software company that provides market data on complex order books of multi leg trades between asset classes.
The firms will collaborate to offer EESAT's Fuse product to the options trading industry. Fuse, a software platform developed originally under the trading firm MEB options, aggregates the seven US complex order books into a single, consolidated feed.
The partnership offers traders a new way to access complex order books. Previous access to complex order books was limited to each individual options exchange. Fuse enables firms to integrate the consolidated feed directly into their own trading applications and access the seven US equity complex order books on a single feed, in a unified, normalized fashion. Data is consolidated and distributed through the SpryWare feed handler.
"The complex order book market has been accelerating dramatically in the last year," said Daniel May, co-founder of SpryWare, "This is the perfect time to introduce a consolidated complex order book feed. In the same way OPRA simplified access to the direct options exchanges, Fuse will do the same for complex order books. It's a long overdue solution for options traders, and there is potential for a much broader application of the Fuse product to retail trading shops, order management system providers, and really any proprietary trading shop."
"Complex Order Book trading has always been more complicated than traditional trading," said Jason Stamer, Director of Sales and Business Development, "Typically customers who wanted to access multiple complex order books had to contend with differing API's, symbologies, and integration issues. Offering Fuse with the SpryWare feed handler gives users an easy way to access and incorporate complex order books into their trading strategies, at the lowest possible latency, and without incurring multiple internal development costs or dealing with ongoing exchange updates."
The partnership is the latest move SpryWare has made as part of its strategic direction to expand on its solutions to the trading and low latency industry.ustry. Recently the company announced a partnership with Pico Technologies, and Embium LLC. Both partnerships expand on the SpryWare product suite and allow the company to offer clients more comprehensive, cost-effective market data solutions.