RX-M EX is a modular, low latency, highly scalable, trading platform designed to facilitate the automated trading needs of the most demanding proprietary and institutional trading organizations. The RX-M EX platform combines the features of three powerful frameworks, RX-M-Order, Quote and Route, to drastically reduce custom trading system time to market for the buy and sell sides.More Information
The RX-M order and execution gateway provides a highly efficient connection point between internal and external systems. Orders and execution reports can be exchanged with OMS systems, brokers, market centers, post trade systems, and other end points at extremely high rates. Several versions of Fix, OUCH, Arrowhead, ETS and other protocols are supported over traditional and high performance interfaces, such as OpenOnload®. RX-M-Order also offers an optional risk platform, configurable for pre or post trade checks, with delegable supervisory controls. This allows third parties, such as brokers, to control risk settings on gateways they sponsor without inserting intermediary modules between order initiators and the market. Sophisticated order and execution transformations, order staging and many other features are supported.
RX-M-Quote is a framework for high throughput, low latency market data distribution. Support for various versions of ITCH, Fix/FAST, EBS, Arrowhead and other protocols are provided. Feed handlers can be directly integrated into trading applications, eliminating context switching and minimizing memory copying. Feed handlers can also be deployed in engine form with real time distribution support and full historical logging, for research, charting and other applications. MPI and Hadoop based research frameworks make simulation and analysis scale out an integral function of the platform. Properly designed trading engines can transition from simulation to production without modification, greatly improving production reliability. RX-M-Quote is designed to integrate effectively with FPGA based trading engines providing an open path for systems requiring extremely low latency.
RX-M-Route is an open routing platform enabling clients to configure low latency unicast and multicast topologies for order routing, drop copy, system monitoring, gateway connectivity and other applications. Static, rules based and fully dynamic market data driven routing allow custom SOR solutions to be deployed and updated with ease. Routing fabrics can be implemented for single system automated trading applications or enterprise scale, multi-site, multi-market, multi-OMS environments. The RX-M-Route platform is built over a plug-in messaging layer supporting multiple concurrent technologies, including RX-M proprietary native low latency messaging as well as industry standards, such as AMQP. Routing logic can be dynamically reconfigured at run time, compiled for increased performance or transitioned to FPGA for extremely low latency solutions.