Chi-X Europe Introduces Chi-Velocity.Proximity-hosted service allows Chi-X Europe trading participants to offer their end clients sponsored DMA (1) (Digital Media Adapter) See digital media hub. (2) (Document Management Alliance) A specification that provides a common interface for accessing and searching document databases. access with a variety of pre-trade and risk management controls LONDON -- Chi-X Europe Limited, operator of the largest pan-European equity multilateral mul·ti·lat·er·al adj. 1. Having many sides. 2. Involving more than two nations or parties: multilateral trade agreements. trading facility (MTF (1) (Modulation Transfer Function) A measurement of monitor sharpness. MTF compares the contrast ratio between alternating black and green lines that are one pixel thick. ), today announced the launch of Chi-Velocity([TM]). Available immediately, Chi-Velocity is a proximity-hosted risk management software layer located next to the Chi-X Europe primary matching engine that permits trading participants of Chi-X Europe to offer ultra-low latency (1) The time between initiating a request in the computer and receiving the answer. Data latency may refer to the time between a query and the results arriving at the screen or the time between initiating a transaction that modifies one or more databases and its completion. Sponsored Direct Market Access (DMA) to their underlying clients. Chi-Velocity offers a suite of configurable pre-trade controls, open exposure risk management controls, alerting functionality and a FIX order and trade feed that can be integrated with in-house risk management systems. As part of Chi-Velocity's pre-trade controls, trading participants can set a wide variety of restrictions and controls such as restricted stock lists, daily consideration and order limits and price range checking thresholds, among other features. Trading participants are able to license Chi-Velocity from Chi-X Europe and are provided with dedicated software instances on servers managed and maintained by Chi-X Europe. Commenting on the announcement, Hirander Misra, COO of Chi-X Europe, said, "Since launching two and half years ago, we have been keenly aware of our trading participants' need for ultra-low latency connectivity and the ability to pass this along to their end clients as sponsored direct market access. In developing Chi-Velocity, we have sought to ensure that offering this low latency Low latency allows human-unnoticeable delays between an input being processed and the corresponding output providing real time characteristics. This can be especially important for internet connections utilizing services such as online gaming and VOIP - VOIP is not as important as service to their end clients does not compromise our trading participants' risk management checks, as we have introduced controls which are adaptable to suit individual requirements and can easily be integrated into their own systems." About Chi-X([R]) Europe Chi-X Europe Limited is an FSA-authorised securities firm operating a multilateral trading facility (MTF). Chi-X Europe enables its trading participants to trade a wide range of European equities in both a visible order book and the Chi-Delta([TM]) non-displayed order book. Chi-X Europe also offers Chi-Vision([TM]), a separate routing service. Chi-X Europe's low-cost, streamlined operating model Operating Model is a term that is used in many contexts. In essence an operating model describes how an organization operates across both business and technology domains. The Operating Model describes what is important for the organization. is designed to help trading participants achieve ultra-low execution, clearing and settlement costs, and benchmark tests have shown Chi-X Europe to be significantly faster than Europe's traditional equity exchanges. Chi-X Europe disseminates real-time market data to clients directly and via third-party market data vendors at no cost, and off-exchange trade reporting Trade reporting Dealer: In a trade between two registered Market Participants (MP), only the sell side reports the trade. Auction: In a trade between two member firms, only the sell side reports the trade. is available for a low monthly fee. For more information, please visit www.chi-x.com. [c]2009, Chi-X Europe Limited. All rights reserved. CHI-X is a registered trademark in the UK and Europe. Approved for distribution in Europe by Chi-X Europe Limited, which is authorised Adj. 1. authorised - endowed with authority authorized lawful - conformable to or allowed by law; "lawful methods of dissent" legitimate - of marriages and offspring; recognized as lawful and regulated by the Financial Services Authority The Financial Services Authority ("FSA") is an independent non-departmental public body and quasi-judicial body that regulates the financial services industry in the United Kingdom. Its main office is based in Canary Wharf, London, with another office in Edinburgh. . |
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