Realtime trading helps PHLX reach new heights
Short summary:
scalability we require as the trading volume on our options. trading floor increases. ... Schafer first VP of options trading. systems development at PHLX. ...
Long summary:
Realtime trading helps PHLX reach new heightsPage 1When every second counts we employ only the technology that optimizes our business in a realtime network computing environment. The TIBCO solution provides a more open and far more advanced technology for the high performance and scalability we require as the trading volume on our options trading floor increases.William Morgan Executive VP and CIO PHLXRealTime Trading Helps PHLX Reach New Heights S u C C E S S S T O R y Industry: Financial ServicesGeography: united StatesDeployment Summary System replaces homegrown pointtopoint messaging infrastructure with seamlessly integrated TIBCO messaging infrastructure. Integration unifies all tradingrelated systems that are responsible for generating displaying and distributing quotes; routing orders; and executing and reporting trades in real time. Benefits System scales to accommodate massive growth in trading volume. High system reliability ensures smooth operations. Messaging solution gives traders realtime notification of trading activity. The messaging solution reduced development cycles by 20 to 30 percent and decreased time to market.The Philadelphia Stock Exchange (PHLX) was the first securities exchange in the U.S. and is among the nations fastest growing sectors index option exchanges. It trades options on more than 2200 stocks and indexes which equates to more than 75000 products that must be priced and traded daily. This number continues to increase at a dramatic rate as decimalization the transition from fraction pricing to decimal pricing drives data volumes to historic levels.PHLX must receive and process approximately 300 million quotes per day because each option quote reflects a combination of many more variables such as different strike prices and maturity dates. PHLX must also update each quote with every tick of the underlying equity. In addition it is required to send all options prices generated on its exchange up to 47 million quotes per da ...
Source: www.tibco.com
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