NanoSpeed, a provider of ultra-fast field programmable gate array (FPGA) connectivity solutions, has added the Deutsche Börse Group’s Eurex T7 platform to the 30-plus exchanges it offers access to using the Nano-TG trading gateway. As well as access to the Eurex T7 platform, NanoSpeed is offering connectivity to the eight Eurex T7 derivatives partner exchanges including the Singapore Exchange, Korea Exchange, Taiwan Futures Exchange and Bombay Stock Exchange.
The NanoSpeed trading gateway based on FPGA technology came to market in October 2013 and on one card includes market data feed handlers, 12 pre-trade risk checks, an order entry gateway and the capability to calculate indicators such as moving averages. It supports all asset classes on more than 30 exchanges and is pre-programmed, although users can customise the card to meet specific strategy requirements.
The gateway offers a deterministic performance of over 99.8% and takes advantage of hardware acceleration to provide throughput of more than 20 million orders per second. NanoSpeed guarantees wire-to-wire latency of less than half a microsecond and can deliver algo-to-wire latency of less than one microsecond. NanoSpeed’s connectivity to Eurex T7 embraces the Eurex Enhanced Market Data Interface for level one market data as well as the Eurex Enhanced Order Book Interface for full depth order book market data.
The Eurex T7 Nano-TG is up and running and being used by a handful of early adopters. On a wider scale, the trading gateway is being used on a global basis for high frequency trading at tier one investment banks, proprietary trading firms and hedge funds. It is also being used by banks in the Nordics to replace numerous trading servers and cut rack space and power consumption.
Sanjay Shah, co-founder and chief technology officer at NanoSpeed, says the key benefit of FPGA technology is ultra-low latency. He counters market perception of FPGA technology as unreliable, saying NanoSpeed has built its gateway using an aerospace grade engineering approach – Shah has prior experience in the aerospace sector – and constantly tests the technology to ensure reliability. Resilience is provided by including two cards in one server or two cards across two servers.
From a standing start with two founders in London in 2011, NanoSpeed has built up a team of 11 employees, mostly engineers, and operates across Europe, Asia and North America. Looking forward, Shah says: “We are looking at many markets and if there is customer demand for access to particular markets we will provide it using Nano-TG. At the moment, we are looking at connectivity to exchanges in Brazil, Russia, India and China.”