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Greenline Mentioned in Inside Market Data

Expanding Latency Monitoring Capabilities

"Greenline Bows ex-Trading Metrics Tools"

Greenline Financial Technologies, a provider of FIX Protocol-based trading software and a subsidiary of fixed-income trading platform MarketAxess, is rolling out technologies acquired last year from defunct vendor Trading Metrics in a bid to expand its capabilities for monitoring market data and order latency.

Greenline acquired the intellectual property and source code of New York-based latency monitoring software vendor Trading Metrics early last summer, after the vendor experienced funding problems at the end of 2008 (IMD, Dec. 15, 2008). Josh Tolman, president of Greenline, says the two vendors were already familiar with each other as they had previously discussed opportunities to integrate and bundle their products, and that the acquisition was intended to increase Greenline's latency monitoring capabilities and expand its range of datafeed protocol connectivity.

"Trading Metrics focused on latency monitoring for order entry and market data - which is key for us, because we already have our own functionality on the order entry side," Tolman says. "So we have taken that and rolled it into our overall product group."

The vendor is currently rolling out Trading Metrics' monitoring agents - the components that sit on a network to observe traffic throughput and latency - as part of a relaunched, standalone latency monitoring product, and is integrating these with Greenline's other products to act as the data capture component for its suite of monitoring technologies.

Combining the agents with its existing product, such as the MetriFIX tool for monitoring FIX message flow, will enable the vendor to create a "compelling" decision-support tool that combines different statistics about data and order flow analysis, such as order fill statistics, to provide an input to order-routing and trading decisions, he adds.

In addition, Greenline can deploy the technology for use by its Professional Services team, which provides custom benchmarking projects and reports to assist clients in capacity planning, who may not need a dedicated monitoring system running in-house.

Author: Max Bowie

Date: January 4, 2010

Source: Inside Market Data

Vol 25 No 14

DELIVERY TECHNOLOGIES

Link: Greenline Bows ex-Trading Metrics Tools.