Chief among the changes is the recently-announced move of CBSX’s matching engine from Chicago to Equinix’s NY4 datacenter in Secaucus, NJ, which was completed on Friday, June 1 after a six-month planning and migration process.
“The distance latency from New York to Chicago can be 13 milliseconds in each direction, so the relocation… saves those trips for participants in CBSX. Most firms who connect to us have their trading computers based on the East coast, or even already in Equinix,” to access other markets that host trading engines in the facility, such as the International Securities Exchange and Direct Edge, says Gerry O’Connell, executive vice president and chief information officer at CBOE, adding that most of the participants on the equity market are based in the New York area rather than Chicago.
Along with the move, CBSX took the opportunity to deploy the latest version of its CBOE Direct trading engine, which provides more efficient trading response times, deployed on faster servers based on Intel’s Westmere X86 processors, along with faster network equipment and increased network capacity from 1 Gigabit-per-second to 10 Gbps.
In addition, CBSX has also introduced a new “light order” type—a smaller message size with more compact data fields than its regular order messages, streamlined to pass through the exchange’s systems with lower latency, resulting in message latency of less than a millisecond, O’Connell says.
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