Fixnetix, a global provider of managed trading solutions , announced today that the United States Patent and Trademark Office has granted them the patent for its field-programmable gate array (FPGA) risk management hardware-based trading solution iX-eCute®.
iX-eCute is one of the world’s fastest pre-trade risk systems and can handle millions of trade executions and carry out over 40 pre-trade risk checks in single-digit microseconds. The approval is the first of its kind for an FPGA risk management system.
Fixnetix believe that iX-eCute will become the ultimate market gatekeeper preventing rogue orders whilst checking every trade/market order “In Line” before submission to a stock exchange or market venue at unparalleled speeds which have never been achieved using traditional x86 functionality or FPGA ‘packet sniffing’.
“Fixnetix has achieved the last true defence before execution. Simply put, a stock exchange or market venue will never see a market order if it doesn’t pass the relevant checks. The aim was to offer the necessary speeds to police low-latency trading with determinism, reliability and addressing heightened regulation and internal compliance rules”, said Matt Dangerfield, CTO, Fixnetix.
“Patenting iX-eCute demonstrates Fixnetix’s continual commitment to innovation and more importantly to delivering services that the customers want, whilst reducing complexity, risk and total cost of ownership” said Hugh Hughes, CEO, Fixnetix.