NanoSpeed, the provider of ultra-fast FPGA solutions to the trading community, has announced connectivity to the London Stock Exchange universe of equities and equity derivatives.
NanoSpeed's Nano-Risk already offers connectivity to more than 30 exchanges around the world, including NASDAQ, Eurex and the CME.
Says Sanjay Shah, NanoSpeed CTO: "Launching our high-speed LSE solution will now allow market participants to perform critical risk checks, such as fat-finger and client-specific checks (for DMA), faster than ever before. Because performing risk checks in software is very slow, our approach is to enable an institution to do the same thing, but on an FPGA. An institution can perform the vital calculations in under half a microsecond, which is 50-100 times faster than using software." He adds: "With Nano-Risk an institution's clients get much faster access to the market, which is of course a significant benefit for them. The speed advantages are borne-out by a recent implementation by a tier-1 bank, which has started using Nano-Risk for access to the LSE and another large, global bank, which is accessing the CME with Nano-Risk."
NanoSpeed supports order entry for the LSE (using the MIT protocol), while the market data, utilised in pre-trade risk checks, uses the LSE Group Ticker Plant (GTP) and the MIT ITCH protocols. Outgoing orders are put through exceptionally fast risk checks, with a latency of less than half a microsecond, impressively faster than software based-checks. Once the risk checks have been completed the orders are passed to the matching engine for execution.
Investment banks, proprietary trading firms and hedge funds use NanoSpeed solutions to gain a competitive edge in trading, market data processing and risk management. The aerospace background of NanoSpeed's founders ensures exceptional product robustness, while their deep understanding of the business, regulatory and operational requirements of the financial markets allows the company to deliver significant increases in speed and processing capacity to trading interfaces for exchanges. Its technology provides optimised connectivity, combined with exceptionally low and deterministic latency to global exchanges, across all asset classes.