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The NASDAQ OMX Group (Nasdaq:NDAQ) announced today that it has selected Correlix Inc. to provide real-time latency insight to its customers. The service will allow NASDAQ OMX customers access to independent real-time latency measurement information for intraday and post-day analytics.
NASDAQ OMX will initially provide latency measurements for The NASDAQ Stock Market. Through the Correlix RaceTeam(TM) service subscription, NASDAQ Stock Market trading customers will be able to monitor and analyze real-time latency information associated with their orders, executions and market data. Further plans include expanding the service to make latency information available for other NASDAQ OMX markets around the world.
Eric Noll, Executive Vice President, NASDAQ OMX said, "This new service addresses an important customer need, as latency has become a critical means to compete and craft trading strategies. Through the RaceTeam service we offer objective latency benchmarking that can help customers improve on trade execution."
Shawn Melamed, Founder and CEO, Correlix said, "We are excited to have NASDAQ OMX as the first global exchange group connecting into the RaceTeam service network, providing objective latency transparency to its customers. This service is designed to help market participants optimize trading strategies, and ultimately maximize operational efficiency."
Open RaceTeam trials for NASDAQ Stock Market members will begin in the first quarter of 2010. For participation information, please contact your NASDAQ OMX or Correlix representative.
