Chi-Tech adopts IBM messaging solution
IBM today announced that it has signed an agreement with Chi-X Global Technology, LLC (“Chi-Tech”), the technology services unit of Chi-X Global Inc., whereby Chi-Tech will adopt IBM’s high speed messaging technology in its exchange and market center trading technology platform.
The agreement enables Chi-Tech to integrate IBM WebSphere MQ Low Latency Messaging as part of the matching platform it provides to clients around the world. It also allows the company to include the IBM messaging technology in platforms deployed for the regional Chi-X market centers.
IBM’s WebSphere MQ Low Latency Messaging is a high speed messaging transport optimized for high volume, low-latency requirements of financial marketplaces and participant firms.
Chi-Tech provides trading infrastructure technologies and services to exchanges, alternative trading venues, and market participant firms.
“Chi-Tech selected WebSphere MQ Low Latency Messaging as a messaging backbone for our high performance, low latency matching technology,” said Richard Leung, Chi-Tech Chief Technology Officer, “assuring that our platform continues to meet the speed and mission-critical reliability requirements of today’s algorithmic and high frequency trading communities.”
“As more exchanges and the firms that trade on them seek to increase speed, reduce latency and ensure adequate capacity to succeed in the fiercely competitive and highly automated trading environment of the future, many are actively evaluating new systems to support these more demanding trading requirements,” said Paul Michaud, a financial services, trading and risk management specialist at IBM. “Implementing and fine tuning such new systems will require the expertise of financial technology specialists like IBM and Chi-Tech and the power of leading edge technologies such as IBM WebSphere MQ Low Latency Messaging.”