Initial Tests on Intel(R) Xeon(R) 5500 Processor Series Show OPRA Feed Handler Performs at Latencies Measured in Hundreds of Nanoseconds
Collaborative Software Initiative (CSI), the company that brings together like-minded organizations to work collaboratively on software at a fraction of the cost, today announced its first products based on its Open Market Data (OMD) architecture, which was created to address the need for a standards-based solution for distributing financial services market data to trading applications. These initial products are an open set of feed handlers supporting the three highest volume exchange data sources: FAST OPRA V2, ArcaBook Multicast and ITCH 4.0. CSI Feed Handlers’ plug-in architecture allows them to easily and tightly integrate with any middleware product or directly into ultra-low latency trading applications.
CSI and Intel have driven CSI Feed Handler for OPRA at speeds in excess of 3.7 million messages per second - more than four times the peak rate of today’s options markets. At these rates the latency per message in the feed handler is substantially less than one microsecond. This testing is being done on the Intel(R) Xeon 5500 Processor platform giving users maximum flexibility to customize and enhance their trading strategies.
“Our collaboration with CSI demonstrates a commitment to helping our customers make the most of the latest advanced technology in the market,” said Shannon Poulin, Xeon platform director, Intel Server Platforms Group. “We have worked with CSI’s engineers and software developers around the world to help them get most from the new Intel(R) Xeon(R) 5500 processor-based servers. The result of our testing with CSI Feed Handler for OPRA delivers outstanding benefits for capital markets customers.”
Open Market Data is a standards-based architecture for market data infrastructure that addresses the need of financial institutions to leverage the best technology available. This community-developed open standards solution permits the use of innovative technology across components to improve price performance.
“Members of the capital markets community need a standard that allows them to leverage the best technology available,” said Alan Paris, executive director, Ernst & Young. “The scalability and price/performance benefits delivered in an open market data implementation permit customers to be more flexible and cost conscious in this constantly evolving marketplace.”
CSI’s collaborative approach to delivering rapid and reliable market data software can help companies significantly increase transaction speeds and improve the performance of their other critical applications. It also allows for internal development resources to be reassigned to core applications, those applications that give a competitive edge and advance the mission of the company in which they are deployed.
“Engaging with companies in capital markets was the next obvious step for CSI,” said Richard Reichgut, director of financial services, CSI. “Collaborative Software Initiative invites the global trading community to take advantage of these benefits and gain access to points of liquidity and worldwide markets through our innovative market leading software.”
Collaborative Software Initiative (CSI) (www.csinitiative.com) was founded in 2007 by Stuart Cohen, a veteran IT executive and former chief executive officer at the Open Source Development Labs. CSI introduces a market-changing process that applies collaborative methodologies to building and delivering software at a fraction of the cost of traditional methods.
CSI engages the power of community to build project teams to provide the central management function for developing software collaboratively and delivers high value enterprise software at a lower cost. CSI offers the software to a broader base of customers under the open source licensing or Software as a Service (SaaS) models with commercial support.