Latency measurement software provider Correlix and complex event processing technology provider Aleri have formed a joint alliance to offer Correlixs latency intelligence with Aleris complex event processing platform, enabling traders to adapt their complex event processing models to enhance trading performance in real time, both companies announced Monday.
The alliance, which does not involve integration of both platforms--Correlix Latency Intelligence with Aleris CEP Platformwas formed in order to give users a better understanding of the benefits of having both products working together, explained Jeff Wootton, VP of product development at Aleri, who noted that by combining Aleris complex event processing (CEP) tool with Correlixs solution, which monitors, measures and analyzes trading execution and market-data flows in real-time, both firms will [fill] an essential role in the needs of todays high speed trading environment.
To successfully trade in todays marketplace, firms must be able to quickly respond to changing market conditions and manage latency at the granular level, said Shawn Melamed, CEO of Correlix. Together with Aleri, we are addressing the needs of high frequency traders for additional automation in their trading strategies to gain an edge by factoring in market response time Correlix and Aleri are complementary products that can co-exist in the same [trading infrastructure.
Correlixs latency tool makes real-time latency information available, providing insight into market data and trade execution, while Aleri CEP provides a tool for interpreting and acting on that information, explained Wootton. With CEP you can define continuous analytics that monitor and interpret the latency information, and then generate alerts or initiate a response based on that information.
Through this alliance, capital market firms can gain a holistic view of latency throughout the entire lifecycle of a trade and factor that into automated decision making, continued Wootton. In addition, trading venues can use this information to attract liquidity by providing an optimized low-latency infrastructure.
This article can also be found at SecuritiesIndustry.com.
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