The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

NLX Leverages Genium Inet, Equinix For Low Latency

Nasdaq OMX’s planned London-based NLX derivatives exchange will leverage the exchange group’s own Genium Inet technology to ensure low-latency matching. The exchange will base its primary matching engine at Equinix’s popular LD4 facility in Slough, west of London, where co-lo facilities will be available.

When it begins operating in Q1 of 2013 (if the regulators say yes), NLX will trade in both short term and long term interest rate futures and options, with clearing via LCH.Clearnet.

The exchange will accept orders in FIX format, with market data available in both FIX and Itch format, the latter offering lower latency.

While NLX will use Equinix as its primary hosting centre, it has chosen rival Interxion as its secondary host, in east London.

Genium Inet – built in Sweden and in use at the Singapore Exchange, the Hong Kong Exchange, BrokerTec and the exchange group’s own Nordic markets, among other market centres – is one variant of Nasdaq OMX’s Inet matching technology, with a matching speed of less than 90 microseconds for some deployments.

Another variant – X-Stream Inet – is developed in Australia and is considered to be the fastest generally deployed matching technology, with its implementation at the SIX Swiss Exchange matching in less than 40 microseconds. It has also been deployed by the SBI Japannext proprietary trading system in Tokyo.

Neither Genium Inet or X-Stream Inet is actually used by the U.S. Nasdaq Stock Market, which runs on proprietary technology, referred to simply as Inet (a throwback to technology that came with the acquisition of Instinet).

CME Group also plans to open a London-based derivatives exchange in the middle of 2013. Both markets would compete with the incumbent NYSE Euronext Liffe market and Deutsche Boerse’s Eurex exchange. Eurex is undergoing a technology upgrade designed to lower its latency.

Related content

WEBINAR

Upcoming Webinar: Integrating Intelligent Machine Readable News

Date: 30 November 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Intelligent machine readable news is a powerful tool in the arsenals of trading and investment firms seeking competitive advantage. It turns unstructured data into actionable insight and can be used, for example, to uncover market trends, identify correlations and...

BLOG

Straits Financial Joins TrueFX to Enhance Clients’ Access to FX Liquidity

Singapore-based brokerage house Straits Financial Services has joined TrueFX, a trading facility for spot FX, as a clearing member, to provide FX brokers and buy-side firms in the Asia Pacific region with direct market access to spot FX liquidity. TrueFX was launched last year by technology vendor Integral and investment bank Jefferies, in a move...

EVENT

RegTech Summit APAC Virtual

RegTech Summit APAC will explore the current regulatory environment in Asia Pacific, the impact of COVID on the RegTech industry and the extent to which the pandemic has acted a catalyst for RegTech adoption in financial markets.

GUIDE

Trading Regulations Handbook 2021

In these unprecedented times, a carefully crafted trading infrastructure is crucial for capital markets participants. Yet, the impact of trading regulations on infrastructure can be difficult to manage. The Trading Regulations Handbook 2021 can help. It provides all the essentials you need to know about regulations impacting trading operations, data and technology. A-Team Group’s Trading...