Fusion Systems' Raptor goes LIVE on KRX with leading global sell-side firm

Seoul, Korea - 8 May 2015

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:

  • Cumulative portfolio risk filters
  • Margin collateral management
  • Stock and loan inventory management
  • Order state management
  • Short-sell risk filters
  • Advanced order types (pegging, etc.)
  • Algo order support
  • Drop copy
  • Real-time monitoring and control via Flux
  • Failover and full recoverability with no single point of failure
  • Notifications via e-mail for risk limit breaches and warning levels

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:

  • Integrated latency reporting and monitoring
  • Masking - investor ID/Account/Client masking
  • Mass cancel - system wide or client specific
  • Bring up/down client or exchange sessions in real-time
  • Update risk limits and balances intraday
  • Alert support privilege – such a user can only view the alerts
  • Pushed alerts, with easy drill-down navigation
  • Role based visibility

Benefits

  • Provides a global view of all trading activities
  • Allows precise control over multiple levels of internal and client market risk
  • Helps enable improved account and market risk management
  • Provides unified management interface

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