Börse Berlin Equiduct Systems has announced that it has selected Fixnetix, the leading provider of low latency market data and trading infrastructure connectivity, to develop the fastest and most robust market data feed for its Equiduct Trading platform. Equiduct Trading will provide, from mid-2008, a pan-European regulated market offering cross-border trading services and market data distribution that needs the fastest and most reliable market data feed technology to ensure that its customers can take advantage of its Best Execution services.
Börse Berlin Equiduct Systems selected Fixnetix because its market data solutions deliver the fastest, most resilient and proven end-to-end performance without any buffering or loss of data, and the company was able to ensure minimal pan European latency to support the creation of Equiduct Trading's VBBO (Volume-weighted Best Bid and Offer) real-time feed for liquid instruments, which is derived from the full depth of the book from all relevant execution venues in Europe. Based on Fixnetix data, Börse Berlin Equiduct Trading believes that its VBBO provides the European benchmark price that is required as part of each investment firm?s equity execution policy.
Börse Berlin Equiduct Systems selected Fixnetix feeds after a detailed assessment of other market data vendors.
"Enabling our customers to quickly and cost-effectively meet the requirements under MiFID we need to ensure that we provide the most reliable VBBO prices" commented Artur Fischer, Joint CEO of Börse Berlin Equiduct Trading. "Our comprehensive testing confirmed that the Fixnetix feeds deliver the fastest and most comprehensive Level II data for all our target markets, and - as recent market conditions have shown - are robust enough not to drop or delay any data during volatile or fast market conditions" commented Rob Brouwer CIO of the Börse Berlin Equiduct Group. "With a key project like this, deadlines were of ultimate importance and we are pleased that Fixnetix were able to deliver this first phase of the project on time," he added.
"Fixnetix is committed to the success of Börse Berlin Equiduct Trading, and we?re delighted that Equiduct has recognized Fixnetix direct data feeds as the fastest and most resilient for demanding real-time applications such as the Equiduct Trading offering," added Hugh Hughes, Chief Executive Officer for Fixnetix. "Börse Berlin Equiduct Trading clearly realises that low latency services - and the ability of firms to provide a Best Execution capability - are meaningless without the proven end-to-end connectivity that can ensure robust performance across demanding multi-national environments. That's why we're proud of our ability to deliver sub-millisecond performance without any buffering or loss of data."