Trading Metrics announces Trading Latency Metrics, a fully integrated solution for tracking the speed of trades. The solution tracks the speed at which trades are received, routed and executed by Exchanges. Continuously measure the latency of market data as it travels from the source through Direct Exchange Feeds, Consolidated Feeds and your Market Data Distribution infrastructure.

    Trading Latency Metrics can detect latency by trading session, venue, order ID or by customer account. It tracks the order receipt time, the time for delivery to a trading venue, and the time the trading venue takes to acknowledge and execute the trade. Latency measurements are in microseconds, or 1/millionth of a second, increment. The product is FIX 4.X to 5.0 compliant and can be expanded to other trading protocols. The system includes an easy-to-use "information portal" to run statistical reports, analyze trading sessions, or to view in near real-time the flow of order receipts and trade execution times.

    Trading Latency Metrics is a non-intrusive software product which measures latency at the network level. It is deployed using the Endace NinjaBox  appliance for hardware based data capture and time stamping. The hardware attaches to a SPAN port or "tap" on the network switch. In this way, the solution "listens" to copies of the messages and does not impact the existing network or applications. The product supports Latency Alerting which can be triggered if a component of the transaction is delayed.

    "Our clients use the trade latency data in DMA Reports to show the timeliness of order receipt, order routing and fills," commented Jeff Drew, CEO of Trading Metrics. "The sell-side believes this level of reporting helps them to compete for order flow," continued Drew.

    "Aggressive trading firms want to know which venues are fast and which ones are slow. They want to begin to re-direct order flow dynamically to the venues where they can get the trade done," added Drew.  

Key Features:
    - Comprehensive set of reporting capabilities - Filter the data by specific node or time horizon to analyze the “market open” or key trading sessions.
    - Monitor data rates and conduct throughput analysis - Examine load correlations and identify common sources of problems.
    - No modifications to existing applications - There are no changes needed to the applications and there are no performance impacts to your Infrastructure.
    - Be the first to know when latency rises to unacceptable levels - Alerts can be fed to email systems or operational consoles.
    - Easily adapts to your network configuration - You can both segment devices and nodes for specific diagnostics and/or combine areas for an ‘end to end’ view.
    - A platform to collect, analyze and publish latency data - Working with Trading Metrics professional services you can expand the platform with custom reports, latency publishing and the incorporation of proprietary feeds and analyses.