Redline Trading Solutions has introduced a managed version of RedlineFeed, which offers subscribers an ultra-low latency market data feed built from straight-line aggregation of exchange feeds using Redline’s ticker plant. The data feed provides ultra-low latency normalised market data for US equities and options, but will soon be augmented with futures and foreign exchange data. International expansion is also on the Redline plan, with the first move being a managed European equities feed that is due to be available later this year.
Mark Skalabrin, CEO of Redline Trading Solutions, explains: “Trading firms are seeking global market data solutions that cost them less to maintain while not compromising low latency receipt of data. RedlineFeed reduces latency and increases the performance of market data that applications receive by aggregating direct feeds, normalising the data and publishing it to apps running our software. The managed service’s use of shared connectivity and networking also offers reduced cost.” Offering an example of RedlineFeed’s cost benefit, Skalabrin adds: “Connectivity to 12 exchanges is required for US equities data, so using RedlineFeed reduces the number of connections a firm needs from twelve to one.”
Redline attributes its performance to software that has been built from the ground up and is designed for apps such as proprietary trading, algo trading and smart order routing, and exploitation of the Intel roadmap to provide increased core processor performance with a smaller footprint.
Skalabrin says: “The architecture of our solution and the scalability of our software provide very deterministic latency despite what is going on in the market.” Proving the speed of RedlineFeed, he says it takes less than 10 microseconds to take in raw exchange data, normalise the data and publish it to an application server when the server is in the same collocation as the feed publisher.
Redline is deploying RedlineFeed at a number of collocation data centres and is working with hosting partners, such as Options IT, to provide infrastructure support to RedlineFeed subscribers where necessary. It says the managed service was built in response to customer demand and expects banks that have built their own connectivity to exchanges will, over time, migrate to managed services that can offer both performance and cost benefits.