Fusion Systems announced that Raptor, a leading Ultra-Low-Latency (ULL) Direct Market Access (DMA) solution, is live with high volume order flow on the Korea Exchange (KRX). Raptor provides low-latency FIX/OUCH to market-native DMA and risk management for all major Asia-Pacific cash and derivative exchanges and alternative venues. Raptor maintains one of the lowest published latencies in the market, achieving a median latency of 49 microseconds in production while sustaining an order rate of 10,000 TPS with all pre-trade risk and compliance checks embedded. Fusion Systems’ hybrid software/FPGA solution, called Raptor Raw, provides a median latency of 1.5 microseconds, inclusive of pre-trade risk and compliance checks.
Raptor is integrated with Koscom's low latency NFS Direct interface which offers opportunities for algorithmic trading and high frequency trading while providing all pre-trade, at-trade and post-trade management checks at minimum latency. Raptor has the ability to add accounts received from the Exchange in real-time, client intraday and can apply default risk filters automatically on newly created accounts. Raptor has been enhanced to add sophisticated risk filters such as self-crossing and average moving price and has a robust mechanism to validate Investor ID/Exchange Accounts for clients, which are fundamental to KRX.
Raptor is certified with the new KRX protocol (EXTURE+).
Raptor feature set and risk management capabilities include:
Raptor Flux for Monitoring and Control
Flux is a real-time command and control front-end for electronic trading desks and operational support, enabling monitoring and control, including real-time latency, flow rates, network and system health monitoring. Raptor has implemented KRX specific order visibility, which restricts visibility of sensitive client information by offshore personnel. It also provides: