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Direct Edge® announces EdgeRisk PortsSM, a new risk mitigation service offering Members and non-Members dedicated logical test ports to evaluate the readiness of their systems that connect to EDGA Exchange (EDGA®) and EDGX Exchange (EDGX®). Pending filing with the Securities and Exchange Commission (SEC), the new service will be available in June 2013.
Functionality
EdgeRisk Ports is an optional service that can facilitate testing at any time during the trading day including pre- and post-trading hours, eliminating the need for reserving specific testing times or waiting for industry-wide user tests. EdgeRisk Ports permits only designated test symbols to be transmitted to the production environment. This provides a rigorous simulation of exchange conditions while eliminating the risk of a live order executing during testing.
Pricing
Direct Edge encourages market participants to obtain at least one production test port per exchange. EdgeRisk Ports follows the same fee structure as other logical ports and are eligible to count towards the five free logical ports offered to market participants. Any additional logical port beyond the first five would incur a monthly fee of $500 per port.
More Information
- To obtain an EdgeRisk Port, complete and submit a Logical Port Request Form to Direct Edge Member Services.
