Trading Technologies has released Autospreader Strategy Engine,
a server-based version of its Autospreader application. The US
software vendor said the new product would reduce latency by
pushing execution from the desktop to the server.
Tom Haldes, senior product manager of automated trading at
TT, said the new product was "a high performance server for
trading implied spreads," with the benefits of concurrency and
co-location for reducing latency from milliseconds to
microseconds. Haldes said the new product could handle up to 10
legs, with active quoting in a maximum of three markets.
The engine is an extension of TT’s Autospreader
application, supplied in its X_Trader Pro offering. Haldes
described the system as extremely popular, but said it had
"typical desktop" latency.
"Having been a desktop application, the Autospreader
application used to require an update to travel all the way to
the desktop for the software to analyse it and possibly send a
re-quote or hedge order," Haldes said.
This causes a delay. "The further the desktop is from the
matching engine, the greater the latency that is introduced,"
The new Autospreader Engine removes that geographical
"We’ve built a high performance, multi-threaded
version of the Autospreader business logic. The new solution
capitalises on proximately based computing," Haldes said of the
new server. It allows the execution logic to be conducted very
close to the exchange’s matching engine, removing
the typical latency of desktop spreading applications.
Haldes said that with the new solution, execution times were
"comfortably in the microseconds, using a single server that is
running 400-500 concurrent spreads".
TT said the new server would be scalable, so if traders
needed additional performance, it could be done automatically
without any increase in latency.
Haldes said TT had strived to maintain the "look and feel"
of the desktop Autospreader with the new product. Autospreader
Strategy Engine requires the latest version of X_Trader
The Chicago-based technology firm said the new product had
been tested for a year, including usage by TT’s
own proprietary trading firm.
TT said Autospreader Strategy Engine was the first
server-based execution product to be launched, but the company
promised similar new products, including some that cover
"user-defined strategies and algorithms".
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