The new trading technology in the UK, comprising of a full suite of financial software and hardware systems for exchanges, brokerages, hedge funds, financial institutions, and traders, was launched as MoonX claims to provide execution speed 150 times faster than its closest competitor.
The offering includes the world’s fastest exchange software, matching 25 million Transactions Per Second (TPS), meaning traders can place 150 times more orders in the same time frame than with MoonX’s closest competitor, according to the firm. The company claims to be the fastest exchange in the world, processing one order in 6 nanoseconds, by that time light would have only traveled 1.8 meters.
It is the patent pending Matching Engine technology, “superior to any systems on the market”, that delivers MoonX’s processing speed. The exchange is built with enterprise-grade security, hosted on physical servers, and uses AI, facial and mood recognition technology to go beyond 2-factor authentication. MoonX already has an institutional client base on the likes of TPICAP and CME.
Nithin Palavalli, Founder and Chief Executive at MoonX, commented: “We observed that the flow of trading is often hindered by obsolete technology and redundant dataflow structures, used by many parts of the financial services industry. Although, the use of blockchain technology in the financial sector is maturing. However, the underlying foundation, exchange technology has been stuck with little to no improvements, despite heavy investments. Running an exchange on cloud-only infrastructure hinders security and exponentially lowers the operational speed. There is a great need for running the exchange on bare metal servers with proprietary Gateways and Binary APIs. With our MoonX exchange and suite of solutions we are delivering speed, scalability, security and smart surveillance solutions. The speed we provide to businesses means we enhance their efficiency by bringing more opportunities for savings that too consistently for a longer period of time. We welcome institutions to explore our platform and witness transactions throughput at the lightning speed. We are using trusted traditional financial technologies and the blockchain architecture to meet the needs of the modern financial market and enhance trading capabilities in the UK.”
MoonX also offers custodian services which use blockchain technology to store data on securities transactions and for taking custody of securities, enabling greater transparency. The firm’s offering includes a wallet solution crafted for Stock & Commodity Exchanges, Blockchain Powered Exchanges, Forex Traders, Banks, OTC’s & Brokers. Its risk management system and security consulting services are also part of the company’s products and services.