Tag Archives: Chicago

Matching for Managament: 20 Common Data Errors and Variation

A good friend of mine’s husband is a sergeant on the Chicago police force. Recenlty a crime was committed and a witness insisted that the perpetrator was a woman with blond hair about five nine weighing 160 pounds. She was wearing a gray pinstriped business suit with an Armani scarf and carrying a Gucci handbag. (more…)

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Shortest Distance Between Two Points Is A Direct Line

After a few years being off the road, I’m back racking up the miles. That isn’t necessarily so bad unless you need to go to a city that is not one of your airline’s primary hubs. If it isn’t, you go through their hub (or two) before you get to your location. Not at all efficient for me!

The airlines have had a tough go at it over the past couple decades. They’re trying to make the most out of a rigid infrastructure as well as an aging transport mechanism (airplanes that are 20, 30 or 40 year old designs). Central hubs are what they have to do in order to get some level of efficiency. (more…)

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29West Announces Next-Generation JMS Solution

Chicago, USA and London, 16 February 2010 – 29West announced a new JMS (Java Message Service) API for its market leading, next-generation Ultra Messaging® product family.

Major bank customers who know they can benefit from 29West’s brokerless design but have 200 or 300 applications to migrate (many of them written to the JMS API), will now be able to exchange messages with their trading applications — typically written in C or .NET APIs — without the need to recompile each application.  The result: a low risk and faster track to high performance messaging for their next-generation trading platforms.

The product provides a market standard JMS API that leverages the low-latency, brokerless messaging design of 29West’s Ultra Messaging® with Queuing product (UMQ) to provide JMS performance with latencies in the sub-100 microsecond range, and throughput of over 1 million messages per second, on commodity hardware.  The JMS API is an extension of 29West’s recently released Zero Object Delivery (ZOD) Java API that minimizes latency spikes normally caused by the Java clean-up process known as “garbage collection.”

“People want to move to next-generation infrastructures,” said 29West President and Founder Mark Mahowald. “They see that the sooner they can do that, the lower their end-to-end costs will be and the better they can keep up with the pace of innovation in the market.”

Read more…

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29West and INTERTRADE Japan Announce Strategic Partnership

Tokyo and Chicago – 4 January, 2010 – 29West, Inc. the market leader in high-performance, low-latency messaging solutions, and INTERTRADE Co., Ltd (INTERTRADE), the market leader in packaged systems for the securities industry, announce a strategic partnership to use 29West products in the development of the INTERTRADE next-generation securities dealing and trading systems.

INTERTRADE, a leading total securities industry solutions provider with more than 60 deployments in Japan, provides dealing and trading systems and other financial technology solutions. Many exchanges in Japan have gone live with next-generation systems, placing a demand on financial firms for high-performance, low-latency and scalable trading systems.

INTERTRADE has entered the partnership with 29West, which has more than 140 financial deployments around the world, and whose technology has been adopted by major banks and exchanges in their next-generation system architecture. Utilizing 29West products, INTERTRADE will be architecting systems with a focus on the benefits of low-latency, high performance messaging.

“We’re very excited to add INTERTRADE to our growing list of financial customers and partners in Japan,” said Mark Mahowald, president and founder of 29West.  “This project is an excellent example of how 29West Ultra Messaging® can significantly enhance the performance and efficiency of trading solutions such as the innovative and well respected INTERTRADE TIGER TRADING system.”

INTERTRADE President Takahiro Ozaki said, “It is important to aim for low latency as technology improves at the exchanges.  A goal of this project is to maximize the performance of the TIGER TRADING system, already widely recognized for its high-speed messaging platform across the technology industry.

“I believe that having a partnership with 29West will add more value and a significant competitive edge to the TIGER TRADING system,” Ozaki added.

About 29West
29West is the leader in high-performance, low-latency messaging solutions for financial institutions. Their Ultra Messaging® family of products provides up to a 10X latency reduction and 100X bandwidth improvement over traditional messaging designs across a wide range of use cases, including streaming, persistence, caching, queuing and desktop distribution. 29West provides customers with the highest performing, most tunable, most controllable, most powerful messaging API in the industry, and allows full end-to-end monitoring capabilities. With more than 140 production deployments since 2004 and offices in Chicago, New York, London and Tokyo, 29West provides enterprise strength, enterprise-wide messaging. For more information, visit http://www.29west.com.

About INTERTRADE
INTERTRADE Co., Ltd (INTERTRADE), headquartered in Chuo-ku, Tokyo, is the market leader in packaged systems for the securities industry. Takahiro Ozaki is the company’s president.  For more information, visit http://www.itrade.co.jp/

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Chicago Stock Exchange Chooses 29West for Enterprise Messaging Backbone

29West and the Chicago Stock Exchange (CHX) announced on October 15 that 29West’s Ultra Messaging® products have been chosen for the enterprise messaging backbone for the CHX. This includes both 29West’s LBM and UME messaging products.

CHX is a United States National Market System participant offering the ability to transact business in NYSE, NYSE Alternext and NASDAQ listed issues. With a robust matching engine and the CHXConnect routing network, CHX customers can choose immediate delivery to the CHX matching engine or order-routing to FINRA Market-Makers and CHX Institutional Brokers who are able to provide customized order handling solutions for their clients. Eligible orders resident on the CHX enjoy immediacy of display, execution  and cancellation with full exposure to all National Market System participants. The CHX system offers functionality beyond the simple matching of orders and is an ideal venue for hedge funds, options market makers, quantitative, professional and active individual traders that require  immediate and automated execution, while continuing to serve the needs of  traditional broker-dealer clients and the individual investors they represent.

“Last year, we decided to move to 29West for its impressive performance,” said John Kerin, CTO at CHX. “As a direct result of the switch, we’ve also gained incredible flexibility and scalability, along with a marked reduction in the server footprint we need to support our messaging backbone. We have already deployed LBM for all our market data distribution, and we are in the process of rolling it out, along with UME, across our entire enterprise.”

29West’s LBM pioneered the nothing-in-the-middle next-generation  approach to messaging in 2004, and has continued to be at the forefront of  the low-latency performance race ever since, being deployed by industry- leading firms like CHX.

29West’s UME has brought the unique Parallel Persistence® design to guaranteed messaging, and is used as the basis for matching engines inside exchanges, smart order routers, options market making systems, FX pricing and trade buses, and algorithmic trading systems.

“We’re very excited to add CHX to our long and growing list of financial customers,” said Mark Mahowald, President and Founder of 29West. “CHX is an excellent example of how 29West Ultra Messaging can simplify the network and make the system more robust and easily scaled at every level.”

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Zero Latency Tour Chicago Continues Successful Event Series

ZLT-Chicago-09On September 23rd, 29West held its third in-person Zero Latency Tour event in Chicago.  These events are targeted at financial institutions interested in what is increasingly being referred to as “the race to zero”, the increasing realization that lowering system latency delivers concrete competitive advantage.

All of these events have been extremely exciting for 29West.  We’ve been pleased to see a large number of our customers in each of the local markets in which we’ve run events (so far London, New York and Chicago; Tokyo is coming in February) showing up to see what we have to say on the topic of eliminating latency in their systems.  We’ve continued to get very positive feedback about our technical seminars.  Of course, another big draw for these crowds has continued to be our expert panel discussions.  This time around, we had:

  • Sean Gilman, CTO, Currenex
  • John Kerin, EVP, COO & CTO,  Chicago Stock Exchange (CHX)
  • Edwin Marcial, CTO, Intercontinental Exchange (ICE)

We’re in the process of sorting through all the video of the event, and we’ll be posting them for viewing and download on the Zero Latency Tour page on our website very soon.  In the meantime, here are a couple of my favorite excerpts from the discussions:

[29West] has been 100% reliable since we launched. And we’ve been running on it for 4 years now.
-Edwin Marcial, CTO, ICE

We had a great middleware platform that we built… We threw all that away and put in 29West because it allowed us to really focus on our core business.
-Sean Gilman, CTO, Currenex

Our systems were reliable before, but transitioning to 29West enabled us to make them more robust.
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John Kerin, EVP, COO & CTO, CHX

We haven’t had a greater partner with respect to I.C.E. in terms of technology than 29West.
-Edwin Marcial, CTO, ICE

We’d like to thank all of our customers who showed up – it’s always great to see you guys – as well as our panelists and our moderator, Jim Northey.  Also I’d like to assure any of you who haven’t had the chance to get to one of our events that we will continue to host more in the future.  Like I mentioned earlier, we’re hosting our first Japanese event in February.

We’re also planning on posting the aggregated results of the industry surveys we’ve been taking at the ZLT events this year.  Check back soon for those.

29West ZLT

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Upcoming Events: September & October

Visit 29West at Booth 105.

High Performance on Wall Street

September 14, 2009

Roosevelt Hotel

New York, NY

Visit 29West at  Booth 1014.

Futures & Options Expo 2009

Hilton Chicago

October 20-22, 2009

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Visit us at these events!

We’ll share our latest customer success story, Direct Edge, and discuss the many ways 29West can offer higher performance with lower costs.

Be sure to ask for a copy of our UME Performance Report and our architecture poster.

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Zero Latency Tour Visits Chicago

29West ZLT29West’s popular Zero Latency Tour will make a stop in Chicago on September 23rd.  The well attended event rolled through London in May and New York in June.  “Chicago will be an important stop on the tour,” said Mark Mahowald, 29West founder and president. “The Chicago market, known for futures, options and derivatives is hungry for the technical success stories that 29West and its customers can share at this event.”

As in the other cities, the Zero Latency Tour Chicago will feature a presentation by Mahowald, “The Race to Zero,” as well as a technical session presented by 29West director of technical marketing Bob Van Valzah.  And equally popular is the panel discussion by 29West customers, partners or analysts.

“Real word use cases really tell the story best of all,” Mahowald added.  IT managers and Chief Technology officers get the most benefit from hearing how firms are implementing ultra-low latency messaging across the enterprise to optimize profits and ensure best exectution on trades.”

The September 23rd live event in Chicago will be held at the University of Chicago Gleacher Center.  Visit our website’s Zero Latency Tour page for more information and to register beginning August 1.

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