Since 2003, MetaBit has actively deployed its pure FIX-to-native exchange connectivity for high performance trading access to Japanâs exchanges, including the commodity exchange. The architecture of MetaBitâs technology is based on the worldâs leading Orc CameronFIX engine. Today, securities companies select MetaBitâs FIX-to-native exchange connectivity solution for its standardised FIX API that combines high performance and low latency, with cost efficient support.
âOn 30 September 2008, TSE announced its plans for âRemote Trading Participant Servicesâ that will allow offshore firms with no branch in Japan, direct market participation. This will facilitate increased liquidity for Japanâs markets,â explains John Edwards, MetaBit CTO. âOur companyâs FIX exchange connectivity to TSE represents a particularly convenient solution for such trading firms. The product, branded âAlpha,â allows easy trading access through a standardized FIX interface that rationalizes TSEâs native API whilst achieving consistently high performance combined with low latency. MetaBitâs FIX solution can be deployed in the announced co-location services at TSE, at other data centers, or at a Japan broker memberâs site.â
Performance of MetaBitâs FIX to native exchange connectivity Alpha product, has been independently measured to provide throughput above 3,000 messages per second and average latency below 2 millisecond per order at a sustained through-put of 800 orders per second1.
âJapanâs exchanges have often believed FIX to be slow,â continues Edwards, âbut MetaBitâs FIX exchange solution has a proven track record since 2003, and has successfully demonstrated that FIX is capable of high performance and low latency. TSEâs native API is often difficult for non-Japanese firms to build connectivity to, and ongoing support becomes particularly time consuming due to ongoing changes to the API. To have built a standardised FIX API removes all such concerns for our clients, and delivers trading access to TSE in a format that is very familiar to all firms deploying FIX.â
Today, MetaBitâs FIX exchange connectivity clients consist of broker members varying from Japanese domestic players, to global brokerage firms that trade multi-asset classes on all of Japanâs major exchanges ranging from cash equities, index futures and options, CBs to commodity futures.