DGAP-News: NASDAQ OMX and Thesys Introduce Trading Algorithm Test Facility
(firmenpresse) - The NASDAQ OMX Group, Inc.
09.10.2013 14:48
---------------------------------------------------------------------------
Operational Risk Management Tool for Complex U.S. Equity Markets to Improve
Electronic Trading Ecosystem
First Exchange Group to Deploy Next-Generation Solution for Improved Testing
Standards
NEW YORK, Oct. 9, 2013 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc.
(Nasdaq:NDAQ) and Thesys Technologies LLC, the infrastructure affiliate of
Tradeworx serving the high-performance technology needs of market participants,
today announced plans to jointly launch a next-generation testing environment
which will simulate trading on all major U.S. equities exchanges. The Algo Test
Facility will provide the exchange group's electronic trading customers a safe
environment to rigorously examine algorithmic strategies by replaying and
interacting with real historical market data. The Algo Test Facility is
expected to launch in the first quarter of 2014, and will provide customers a
market-wide equities testing platform.
NASDAQ OMX's Algo Test Facility powered by Thesys Technologies will augment
operational risk management efforts for the larger financial ecosystem, help to
navigate testing within complex and interconnected U.S. markets, and better
serve member firms that contribute to the exchange group's deeply liquid
marketplaces. The Algo Test Facility will allow market participants to simulate
their automated trading strategies against real-world scenarios, transactions,
and competitors to manage their risk exposure and their capital expenditure.
Unlike ordinary back-testing systems, the Algo Test Facility is designed to
allow traders to test all aspects of their strategy from the quality of their
quote processing, all the way down to order handling and the interaction of the
trading algorithm with the market microstructure. By testing in advance,
exchange customers may mitigate the risk of aberrant or potentially
destabilizing behaviors like quote stuffing. In addition, the Algo Test
Facility will provide traders with valuable insights about risk and
performance, including the ability to evaluate the cost of adverse selection
for specific trading strategies.
'In an environment where operational costs can burden traders who need to focus
on alpha generation, we are committed to offer our customers cost-efficient
broker services for areas like risk management and performance engineering,'
said Eric Noll, Executive Vice President of Transaction Services U.S. and U.K.
at NASDAQ OMX. 'These broker services make it easier for all market
participants to achieve operational excellence. The Algo Testing Facility is
another way NASDAQ OMX integrates sophisticated technology solutions as a means
for participants to reduce risk exposure in a constantly evolving electronic
marketplace and regulatory landscape,' Mr. Noll added.
The Algo Test Facility will be accessible through the NASDAQ OMX Data Center,
enabling customers to use their existing trading infrastructure, including risk
systems, OMS and feed handlers. Each simulation will recreate market
microstructure and provide an accurate view of adverse selection, time
priority, fills versus misses, latency and bursting. The first phase of the
Algo Test Facility will include simulations for the NASDAQ Stock Market, and
over time the test system plans to support all major U.S. equities exchanges
along with their order types and protocols so user activity may interact with
the historical orders of other market participants. The Algo Test Facility is
powered by a Thesys Technologies platform also used by major trading firms,
stat-arb firms and the U.S. Securities and Exchange Commission.
'We are pleased to work with NASDAQ OMX to bring this revolutionary new
capability to the market,' said Manoj Narang, Chief Executive Officer of
Tradeworx, Inc. 'Currently there is heightened realization that the all market
participants need to adequately test software that interacts with the market,
and given how much trading volume is generated algorithmically today, the
testing of these algorithms has to be a key component to the industry's
efforts.'
About Thesys Technologies:
Thesys Technologies LLC is the infrastructure affiliate of Tradeworx, serving
the high-performance technology needs of market participants with the mission
of democratizing the spread of top tier technology within the financial sector.
Thesys offers the fastest and most comprehensive front-to-back trading solution
on the market, putting investors and traders on a level playing field with the
world's most sophisticated HFT firms. Thesys maintains a leadership position
within the automated trading industry and its systems currently handle 4-5% of
US Equities total daily trading volume.
About NASDAQ OMX:
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels
economies and provides transformative technologies for the entire lifecycle of
a trade - from risk management to trade to surveillance to clearing. In the
U.S. and Europe, we own and operate 26 markets, 3 clearinghouses and 5 central
securities depositories supporting equities, options, fixed income,
derivatives, commodities, futures and structured products. Able to process more
than 1 million messages per second at sub-40 microsecond speeds with 99.99%
uptime, our technology drives more than 70 marketplaces in 50 developed and
emerging countries into the future, powering 1 in 10 of the world's securities
transactions. Our award-winning data products and worldwide indexes are the
benchmarks in the financial industry. Home to approximately 3,400 listed
companies worth $6 trillion in market cap whose innovations shape our world, we
give the ideas of tomorrow access to capital today. Welcome to where the world
takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn
more, visit www.nasdaqomx.com. Follow us on Facebook
(http://www.facebook.com/NASDAQ) and Twitter
(http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made
under the Safe Harbor provisions of the Private Securities Litigation Reform
Act of 1995. These statements include, but are not limited to, statements about
NASDAQ OMX's Algo Test Facility and NASDAQ OMX's other products and offerings.
We caution that these statements are not guarantees of future performance.
Actual results may differ materially from those expressed or implied in the
forward-looking statements. Forward-looking statements involve a number of
risks, uncertainties or other factors beyond NASDAQ OMX's control. These
factors include, but are not limited to factors detailed in NASDAQ OMX's annual
report on Form 10-K, and periodic reports filed with the U.S. Securities and
Exchange Commission. We undertake no obligation to release any revisions to any
forward-looking statements.
NDAQG
CONTACT: Media Contacts:
Thesys
inquiries(at)thesystech.com
Robert Madden
NASDAQ OMX
+1 646 441 5045
Robert.Madden(at)NASDAQOMX.com
News Source: NASDAQ OMX
09.10.2013 Dissemination of a Corporate News, transmitted by DGAP -
a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: The NASDAQ OMX Group, Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US6311031081
WKN:
End of Announcement DGAP News-Service
---------------------------------------------------------------------------
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 09.10.2013 - 14:48 Uhr
Sprache: Deutsch
News-ID 304293
Anzahl Zeichen: 3661
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 231 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: NASDAQ OMX and Thesys Introduce Trading Algorithm Test Facility"
steht unter der journalistisch-redaktionellen Verantwortung von
The NASDAQ OMX Group, Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
