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Prime Trading Implements Iress API Data and Trading Solution, Reducing Data Latency and Costs

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Prime Trading, the privately held proprietary trading firm, has reduced its API data latency and costs as a result of implementing Iress’ API Data and Trading Solution, according to a recent announcement.

As part of Prime Trading’s modernisation process, and to support its commitment to constantly seek out improvements for its end clients, the firm approached Iress for a solution.

The Iress implementation addresses latency issues and network constraints that Prime Trading experienced as it consumed tick by tick market data during peak moments of market volatility. The firm says it now has improved data accuracy, reliability and executability, and has achieved a significant reduction in network burden.

The initial deployment is for Iress’ BBO (best-bid-offer) from its QuantFeed product and covers US equities, with provision for additional asset classes and geographies to be seamlessly integrated into the same feed.

“We’re delighted to have been able to help Prime Trading enhance their offering to customers even further and we look forward to a long relationship, where we will remain in close contact with them, and evolve our offering alongside them,” said Salloum AbouSaleh, Iress’ API data and trading solutions managing director for the Americas. “Because we constantly invest in our infrastructure and partnerships across the globe, Iress is well-positioned to offer rapid integration with in-house, or third party trading management platforms. This means that as our clients’ requirements change, Iress’ agile solutions and connections allow for seamless transition to better data quality, with the lowest latency possible, allowing our clients to drive ROI and maximise trading outcomes.”

Corbin Kidd, Prime Trading’s EVP and CTO, added, “At Prime Trading we are committed to investing in our services and systems to make sure we can offer the very best to our traders.  This means we have to stay nimble and move with the pace of the markets. With Iress we have found a collaborative technology partner who can operate with professionalism and deliver benefits that a large business can offer, with the adaptability, attentiveness and agility. Iress’ impact on our data latency and our cost efficiencies have been profound. Feedback from our traders also indicates that they find Iress’s data to be more accurate, more consistent and more reliable, helping them to improve their own trading outcomes. Iress is a one-stop-shop for us, because it has the bespoke solutions we need now, and the ability to scale with us as we evolve. We look forward to a long and successful future together.”

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