Saxo Bank to Leverage Rapid Addition’s Low Latency FIX Engine

Details

Tuesday, 06 March 2012

Rapid Addition, the leading provider of trading technology solutions to buy- and sell-side financial institutions, announced that Saxo Bank, the international investment bank specialising in online trading and investment, is leveraging the C# version of RA–Cheetah™ as its FIX Protocol engine which remains the world's lowest latency and highest performing solution.

Designed for the buy- and sell-side, exchanges and MTFs, transaction hubs and ISVs, the firm’s solution enables businesses to benefit from increased throughput, lower deterministic latency and operational flexibility. All of these factors mean that RA–Cheetah™ provides reduced total cost of ownership (TCO) and accelerated return on investment (ROI).

RA-Cheetah is in use at institutions across the globe and Rapid Addition continues to innovate in the ever-demanding low-latency and general trading environments.

Jonas Gudjonsson, enterprise architect at Saxo Bank, commented: “Having developed our own internal FIX engine and maintained it for years, choosing a third party FIX engine was a strategic decision in order to reduce the total cost of ownership in addition to leveraging the knowledge of industry experts.”

Toby Corballis, CEO at Rapid Addition, added: “RA–Cheetah™ is the most flexible and cost effective FIX engine available on the market, processing significantly more messages than any of our competitors. For Saxo Bank, these elements were of particular importance and therefore our product was ideal for their needs. We are delighted to welcome Saxo Bank to our growing family of clients and look forward to working with them.”

Gudjonsson concluded: “Having evaluated a number of different providers, Rapid Addition clearly met our requirements both in terms of latency and throughput, as well as the technology fit being pure .NET/C#. In a high performance and high availability .NET environment, it is important that the right practices are applied especially with regards to garbage collection.”

Download the full Press Release.