First Derivatives plc (AIM:FDP.L, ESM:GYQ.I), and Trading Cross Connects US LLC (“TXC”), an incubator of high frequency trading teams, are pleased to announce a joint venture involving a best of breed all-in software and infrastructure solution for the high frequency trading community. The partnership marks the continued expansion of TXC’s technology and infrastructure offering, which has been enabling and supporting high frequency trading since the firm’s launch in early 2009. It also reinforces the ongoing plans of First Derivatives (“FD”) to offer its existing and expanding suite of software and technology products and services to the high frequency trading community.
The partnership satisfies the growing need for software, infrastructure and consulting services to high frequency firms trading in the FX, fixed income and futures market places. Key components of the offering include:
• FDs suite of products and services. The products to be offered include the Delta suite of trading applications powered by Kx’s kdb+ and FD consulting services.
• TXC’s products and services, including software, hosting locations in Secaucus (New Jersey), Chicago, Slough (London) and Tokyo, and native connectivity to FX, fixed income and futures ECNs and exchanges.
TXC and FD have proven the offering and have already taken one customer live using the integrated Delta Algo software solution and TXC’s technology and infrastructure.
TXC has seen growing interest from firms within the high frequency community that are looking to purchase solutions that are “battle tested” and quick to implement. According to Alan Schwarz, President and COO of TXC, “We are committed to being a leader in the high frequency space and offer solutions that are state-of-the-art, cost effective and easy to implement. We are extremely excited about our partnership with First Derivatives. First Derivatives have a longstanding reputation in the market for offering trading and data solutions to large banks and financial institutions. The First Derivatives product set complements our existing offering and will provide powerful tools to our customers. We have already taken one customer live using the joint TXC and FD offering and are very pleased with the deployment and benefits we are able to extend to our high frequency trading team.”
According to Brian Conlon, CEO of First Derivatives, “We are pleased to partner with TXC as we continue to expand into high frequency trading. We have for many years implemented Kx’s kdb+ technology in partnership with many of the world’s largest and most progressive financial institutions to provide innovative solutions in response to the rapid growth in market data volumes and the drive to reduce latency. The expertise we have gained on these assignments forms the core of our Delta Algo offering which will enable rapid development, backtesting and deployment of trading strategies for high frequency trading operations. We have found TXC to be extremely knowledgeable about high frequency trading and their hosting infrastructure is comprehensive and robust. We also partner extensively with TXC for other hosted offerings within the Delta product suite. We look forward to a long and productive partnership with TXC.”
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