Correlix, the leading provider of Latency Intelligenceâ¢ solutions for monitoring, measuring and analyzing order execution and market-data flows in real-time, today announced the release of version 3.0 of its RaceTeam latency monitoring service.
RaceTeam 3.0 includes the industryâs first market latency data feed. The new version of the RaceTeam service also introduces new capabilities to monitor and alert on other real-time trading events, including unacknowledged and stuck orders. RaceTeam 3.0 utilizes Correlixâs proprietary patent-pending technology for processing real-time order and market data traffic and extracting real-time latency data.
âHigh frequency traders and sell side firms are looking to use latency information as actionable data. RaceTeam 3.0 enables traders and developers to automatically tune trading strategies based on the dynamic latency conditions. With the high level of fragmentation and velocity of price changes in the market, it is no longer about what is the best price out there, but whether what is the best price that can be obtained at any particular microsecond,â explained Shawn Melamed, Founder, President and CTO at Correlix.
With Correlixâs first industry market latency feed, RaceTeam customers have the ability to configure and read the real-time latency feed, which includes comparative latency metrics, such as the latency arbitrage between different stocks to adjust strategies for market making or statistical arbitrage.
RaceTeam 3.0 also improves the operational monitoring capabilities by adding the ability to monitor other related real-time order issues, including unacknowledged orders or stuck orders.
âWe have many customers that get impacted by undue exposure related to orders that are not being acknowledged or are dropped. The new functionality we provide in this version of RaceTeam enables customers to track these events and receive alerts in real-time to remedy any developing issue before it impacts the business,â said Mr. Melamed.
The Correlix RaceTeam service is an industry wide real-time Latency Intelligenceâ¢ network that includes many key market players including firms such as NASDAQ OMX Group, Schneider Group and Interactive Data.