LONDON, October 22, 2015 /PRNewswire/ --
Revolutionary Fixnetix FPGA
hardware brings to an end the 'race to
zero' by achieving pre-trade
risk checks with zero added latency
Fixnetix, a CSC (NYSE: CSC) company providing front office
managed services, today announced the release of iX-eCute Zero
Latency (ZL), a groundbreaking risk management and trading gateway
supporting electronic trading for investment banks, prime brokers,
hedge funds and proprietary trading firms.
Enhancements made to the current Fixnetix FPGA based solution
puts iX-eCute ZL significantly ahead of any other pre-trade risk
hardware or software available. Fixnetix has fundamentally altered
the flow of an order through the pre-trade risk process, affording
the client and exchange additional protection against market
manipulation with no latency penalty.
Built on the existing technology of the iX-eCute system, ZL
conducts over 40 different risk checks in line with SEC, IIROC and
ASIC requirements. Specifically, the solution allows for
order submission and risk checking in a lower time frame than
either function can be independently conducted today.
"For the sell-side, ZL offers complete compliance and regulation
adherence without 'bump in the wire' latency," says Dr Marcus Perrett, director of Technology and
Development at Fixnetix. "For the buy-side, ZL offers the ability
to place orders faster than in-house 'best of breed' technologies
and maintains broker-sponsored market access. In addition, by
design iX-eCute ZL is protocol agnostic which allows for deployment
by asset class or geographic region and negates the need for
knowledge of a specific exchange underlying API which dramatically
reduces time to market and maintenance overhead."
Alternatives for providing pre-trade risk checks, such as
passive order inspection, can no longer compete. These system
architectures will always introduce latency when an order is 'on
the wire' and their methods of identifying market manipulation are
simplistic, do not follow the spirit of regulation or allow for
action only retrospectively. iX-eCute ZL identifies orders outside
of accepted risk parameters and rejects them as they are being
generated and before they are sent to the exchange; putting a stop
to trades which otherwise might have a negative impact on the
marketplace. At the same time, not since 'naked access' was the
accepted practise for the buy-side has the 'on the wire' latency
for an order been so minimal. iX-eCute ZL effectively brings to an
end the race for zero latency pre-trade risk and does so with
unparalleled functionality and effectiveness.
"iX-eCute ZL represents a major step forward for risk control
and transparency in the marketplace," says Hugh Hughes, VP and general manager of Fixnetix.
"Five years ago when Fixnetix introduced iX-eCute, we showed the
world that increasingly constrictive regulation doesn't necessarily
need to slow you down. With the release of the next generation
iX-eCute ZL, Fixnetix has taken another giant leap towards helping
the market place negotiate an increasingly complex, regulated and
competitive trading landscape. Fixnetix technology, now underpinned
with CSC's global reach and presence mean that iX-eCute ZL will
soon be powering a significant percentage of the worlds' latency
sensitive trades."
iX-eCute Zero Latency is patent pending.
About Fixnetix
Fixnetix is a wholly owned subsidiary company of CSC (NYSE:
CSC), providing outsourced managed services across multiple asset
classes to leading global banks, hedge funds and proprietary
trading groups seeking trading, market data, hosting,
infrastructure, connectivity and risk management solutions.
Fixnetix is in over 40 co-location and proximity hosting centres
across the world offering access to over 90 markets. For more
information, visit http://www.fixnetix.com.
Fixnetix Contact
Jason Mochine, Commercial Director, Fixnetix, +44(0)203-159-4082,
jason.mochine@fixnetix.com
About CSC
Computer Sciences Corporation (CSC) is a global leader of next
generation information technology (IT) services and solutions. The
Company's mission is to enable superior returns on our clients'
technology investments through best-in-class industry solutions,
domain expertise and global scale. CSC has approximately 70,000
employees and reported revenue of $11.7
billion for the 12 months ended July
3, 2015. For more information, visit the company's website
at http://www.csc.com.
All statements in this press release and in all future press
releases that do not directly and exclusively relate to historical
facts constitute "forward-looking
statements." These statements represent the
Company's intentions, plans, expectations and
beliefs, and are subject to risks, uncertainties and other factors,
many of which are outside the Company's control.
These factors could cause actual results to differ materially from
such forward-looking statements. For a written description of these
factors, see the section titled "Risk
Factors" in CSC's Form 10-K for the
fiscal year ended April 3, 2015 and
any updating information in subsequent SEC filings. The Company
disclaims any intention or obligation to update these
forward-looking statements whether as a result of subsequent event
or otherwise, except as required by law.
CSC Contacts
Rich Adamonis, Global Media
Relations, CSC, +1-862-228-3481, radamonis@csc.com
Anne Eisele, Global Media Relations,
CSC, +1-703-641-2315, aeisele@csc.com
George Price, Investor Relations,
CSC, +1-703-641-3842, investorrelations@csc.com