Transaction Network Services, Inc. (NYSE:TNS), a leading network and data communications provider for transaction-oriented applications, announced today that it has joined forces with TradingMetrics to deliver scalable monitoring and alerting software for the financial services industry that analyzes the performance of electronic transactions, as well as the health of the entire trading cycle.
The solution takes advantage of new Application-Oriented Networking (AON) technology from Cisco Systems, Inc. The AON blades in Cisco routers residing in TNS's Secure Trading Extranet capture and monitor FIX message and TCP event traffic, then send the monitoring messages to the Trading Metrics application which processes and reports on trade events. This allows TNS customers utilizing the service to monitor and analyze trading transaction flow, then report statistics on speed and transaction reliability back to users through customizable reporting tools.
"For many traders, market data and order latency have become crucial to profitability," said Jeff Drew, President and CEO of TradingMetrics. "Therefore, financial institutions are demanding tools to measure transaction speed, including the networks of their trading partners. Embedding monitoring and alerting capabilities in Cisco AON blades across TNS's network provides independent measurement of network speed and reliability. This insight into trading transaction flow is a first for financial Extranets."
Monitoring and alerting software which operates at the network level is a benefit to both buy and sell side institutions using TNS's Secure Trading Extranet. Because the Extranet already connects both ends of the trading cycle, it is uniquely positioned to best measure transaction speeds between trading partners. This solution will help TNS customers to achieve a new level of network visibility. Cisco AON technology also isolates the processes associated with TradingMetrics from the routine router processes, maintaining optimum performance of the router while the TradingMetrics software analyzes and reports back on the processes specifically related to the trade cycle.
Cisco AON is the first network-embedded intelligent routing system integrating application communication, visibility and security, enabling applications and the network to work together as an integrated system without requiring intermediary layers or changes to existing applications.
"Speed is the key differentiator in electronic trading, and Cisco AON enables network service providers to give their customers end-to-end visibility to monitor the speeds and processes that make their businesses competitive," said Taf Anthias, vice president and general manager, Appplication-Oriented Networking Business Unit, Cisco. "The solution offered by TNS and TradingMetrics uses Cisco AON to help meet their customers' needs for security, speed, reliability and real-time visibility."
"TNS is pleased to provide this innovative product development initiative with TradingMetrics," said Alan Schwartz, SVP and general manager of TNS's Financial Services Division. "Because the ramifications of a slow or interrupted trade are significant, customers are seeking the ability to monitor the trading network and know that their orders were quickly processed."
TNS has extended an offer for a trial use of TradingMetrics to its Secure Trading Extranet customers.