Direct Edge to Provide Detailed Latency Data Through Correlix RaceTeam(TM)

NEW YORK, July 29, 2010 /PRNewswire/ -- Correlix Ltd., the leading provider of Latency Intelligence(TM) solutions for monitoring, measuring and analyzing order and market-data flows in real-time, today announced that Direct Edge, America's newest stock exchange, has selected Correlix's RaceTeam latency monitoring service to provide full latency transparency of order execution and market data flow in real-time to its customers.

The RaceTeam service will enable Direct Edge to provide real-time latency insight into its new EDGX and EDGA exchanges, including displaying the matching engine timing. This new level of data availability will enable Direct Edge customers to optimize their trading strategies.

"As one of the few markets willing to provide latency details up to the matching engine, we are excited that through the Correlix RaceTeam service, our customers will have a valuable toolset to better optimize their experience on our new, state-of-the-art trading platforms," commented Bryan Harkins, Head of Sales and Strategy at Direct Edge.

RaceTeam is an objective venue-neutral service that enables trading firms to manage and receive real-time Latency Intelligence information from various trading venues. The RaceTeam service facilitates greater trading latency insight into each transaction and leads to optimized trading strategies, improved trade execution and streamlined inter-party latency problem resolution.

"We are pleased to welcome Direct Edge and its two new exchanges to our rapidly expanding RaceTeam service," said Shawn Melamed, Founder and President at Correlix. "As Direct Edge introduced faster matching engine technologies into the market, we are seeing an increased demand from customers to better understand the latency behavior on these new platforms in an effort to determine the best way to trade."

The RaceTeam availability of Direct Edge data is expected in the fourth quarter of this year, subject to SEC approval. For RaceTeam participation information, please contact your Direct Edge or Correlix representative.

About Correlix

Correlix Inc., a leader in latency intelligence solutions, offers RaceTeam(TM), the leading latency management service providing real-time latency visibility for buy-side, sell-side and liquidity venues. Customers rely on Correlix to monitor, measure and minimize latency in trade execution and market data flow in real-time. This empowers users to execute a trade or deliver and act on market data in fewer microseconds. The company's global client base encompasses the world's largest high frequency trading sell-side, buy-side and market centers as well as low-latency service providers.

Correlix is headquartered in New York with offices in London and Israel. Correlix is backed by prominent venture capital groups Sequoia Capital, Genesis Partners, Blumberg Capital, Vernon & Park Capital, L.P. and Xenia Ventures.

For more information, please visit http://www.correlix.com.

About Direct Edge

Direct Edge, America's newest stock exchange, offers the next generation of displayed markets. With U.S. cash equities volume routinely exceeding 1 billion shares per day, Direct Edge uses multiple exchange platforms and unique order types to match complementary forms of liquidity based on sensitivity to transaction cost, fill rate, and fill speed, while maintaining high execution quality and low latencies. Headquartered in Jersey City, N.J., Direct Edge is owned by a consortium that includes the International Securities Exchange, Knight Capital Group, Inc., Citadel Derivatives Group, The Goldman Sachs Group, and J.P. Morgan. More information about Direct Edge is available at http://www.Direct Edge.com. Everybody Needs Some Edge.

    Press Contacts

    For Correlix
    Tony Miller
    +1-617-418-3024
    [email protected]

    For Direct Edge
    Rafi Reguer
    Head of Corporate Communications
    +1(201)942-8234
    [email protected]

SOURCE Correlix Inc

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