Rival Systems, a leading provider of trading and risk management software, and Algo-Logic Systems, the FPGA ultra-low latency trading solutions provider, have joined forces to develop an integrated offering for futures and options trading.
According to Rival and Algo-Logic, the joint project will level the playing field by allowing smaller operators to access the sub-microsecond latency that is usually the province of only the largest firms with expensive internal infrastructures. The new partners expect the product to be ready for the market in the second quarter of 2017, starting with the integration of Algo-Logic’s Tick-to-Trade (T2T) System for the CME.
Commenting on the venture, Rival Systems CEO Robert D’Arco said, “At Rival, we’re always looking for new ways to help our users compete in the market. We reached out to the Algo-Logic team and are thrilled we were able to develop a turnkey offering that further enhances our platform. The seamless integration will allow users running the Rival Electronic Eye, Auto-Quoter and Rival API to leverage the accelerated solution automatically.” He went on to explain that the new product overcomes the limitations often associated with FPGA solutions when trading a large number of instruments.
Algo-Logic CEO John Lockwood said, “Trading firms are always facing that ‘build vs. buy’ decision, and all but the very largest firms have to wonder whether the huge investment in infrastructure and time will pay off when they choose to build their own trading system from scratch. With this integration with Rival, they get the best of both worlds – a pre-built, easy-to-enable solution with the features they want, without an upgrade to their infrastructure.”
Lockwood added that because Rival’s software developers have custom programmed events and integrated with Algo-Logic’s API, there is no need for clients to get involved in additional development work.
Rival System’s 2016 version of its platform reduced latency by 25 percent. Rival’s customers have the unique privilege of receiving daily reports showing the true tick-to-trade latency of every order.