The Programmable Logic Device, (PLD,) microchip is called iXecute and has been tested for 12 months while a patent had been submitted at the US Patents Office.
According to the company, iX-ecute has been primarily designed to increase the speed of real-time risk controls in accordance with the current and pending regulatory landscape.
The solution will protect market participants in filtering out rogue orders that may have a potential negative impact on themselves, their customers and liquidity venues before they get to the market.
Fixnetix hopes the chip will accelerate its move to become a third party co-location services provider.
Co-location allows trading firms to place their computer servers near an exchanges’ matching engine to cut the time it takes for messages to be sent to and from the matching engine, thus shaving microseconds off trading times.
Fixnetix COO Paul Ellis said iX-ecute opens the marketplace to all participants with no detrimental impact on trading performance with the necessary risk controls.
“This solution complements our existing product suite, services and partner offerings,” Ellis said.
