NYSE Technologies on Thursday will introduce a service that displays up-to-the-minute statistics on how fast it delivers details on orders and transactions to customers.

The technology arm of NYSE Euronext and Corvil, a software and services firm that helps securities firms manage delays in delivering or receiving information, will announce the launch of a jointly developed website that will deliver immediate and constantly updated snapshots of the time it takes to deliver the market data.

The site, called LatencyStats.com, will show how fast the data is delivered from NYSE Euronext data centers in Weehawken, N.J., and Metrotech, N.J., to a switching center at 111 Eighth Avenue, New York. At that site, the data is handed off to customers' equipment.

The Weekhawken center will publish data from NYSE Euronext's electronic exchange, known as Arca. That order book is known as Arca Book Equities.

The Metrotech center will publish data from the New York Stock Exchange and its OpenBook Ultra order book.

For different slices of time, the site will display the average speed of delivery, the peak or "worst" speed and the speed at which 99.9 percent of traffic fell under. The user can select slices of time ranging from 1 minute to 1 hour to one day to 7 days.

The service will allow trading firms to better plan out their own infrastructure and strategies, so that they can invest in whatever bandwidth or equipment they need to hit their own targets for speed of executing their own subsequent orders and trading strategies, said Mark Scahedel, senior vice president of Global Data Products for NYSE Technologies.

"Being fast is really important, but being predictable we think adds more value for the customer,'' he said. "Establishing predictability means creating transparency so that they can build behavior patterns."

The constant publishing of the data will have other benefits, said Corvil chief executive Donal Byrne.

"If all venues and exchanges started to publish this type of information, then the industry as a whole would move forward,'' he said. "There would be less concerns about things happening that people didn't understand. I think the regulatory bodies would become slightly more informed and also feel that the industry was doing the right thing. "

This, he said, would help "decloak the levels of nervousness and suspicion" that surround increasingly fast trading.

But the biggest benefit remains the immediate benefit will be traders, asset managers and other market professionals who have to interact with exchange matching engines. BATS Exchange, for instance, publishes a monthly summary of its performance on executing orders.

"I would tell you that the people who would be most happy would be the participants who consume this information and trade on the various markets,'' said Byrne.

This article can also be found at SecuritiesIndustry.com.

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