Chi-X Global Technology Adopts IBM’s High Speed Messaging Technology



IBM today announced that it has signed an agreement with Chi-X Global
Technology, LLC ("Chi-Tech™"), the technology services unit of Chi-X
Global Inc., whereby Chi-Tech will adopt IBM’s high speed messaging
technology in its exchange and market center trading technology
platform. 

The agreement enables Chi-Tech
to integrate IBM WebSphere MQ Low Latency Messaging as part of the
matching platform it provides to clients around the world. It also
allows the company to include the IBM messaging technology in platforms
deployed for the regional Chi-X market centers. 

IBM’s WebSphere MQ Low Latency Messaging is a high speed messaging
transport optimized for today’s high volume, low-latency requirements
of financial marketplaces and participant firms. The technology was
developed in IBM’s labs in Haifa, Israel as part of the company’s
market-leading research and development program. Version 2.2 offers
industry-leading messaging performance of up to 90 million messages per
second. In tests using IBM’s new shared memory transport, latency as
low as one microsecond has been demonstrated on IBM’s new BladeCenter
HS22. 

Chi-Tech provides trading infrastructure technologies and services
to exchanges, alternative trading venues, and market participant firms.
As part of the company’s product development program and the suite of
technology options it provides, Chi-Tech employs best-in-class
technologies from vendors such as IBM as part of a focused strategy to
offer a range of flexible solutions that increase performance and
reduce cost and risk for clients. 

"Chi-Tech selected WebSphere MQ Low Latency Messaging as a messaging
backbone for our high performance, low latency matching technology,"
said Richard Leung, Chi-Tech Chief Technology Officer, "assuring that
our platform continues to meet the speed and mission-critical
reliability requirements of today’s algorithmic and high frequency
trading communities." 

"As more exchanges and the firms that trade on them seek to increase
speed, reduce latency and ensure adequate capacity to succeed in the
fiercely competitive and highly automated trading environment of the
future, many are actively evaluating new systems to support these more
demanding trading requirements," said Paul Michaud, a financial
services, trading and risk management specialist at IBM. "Implementing
and fine tuning such new systems will require the expertise of
financial technology specialists like IBM and Chi-Tech and the power of
leading edge technologies such as IBM WebSphere MQ Low Latency
Messaging."

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