New record set by Exegy & AMD with up to 49% faster tick-to-trade execution using an off-the-shelf solution in latest STAC benchmark
The new benchmark for trade execution latency of up to 13.9 nanoseconds is less time than it takes light to travel through 3 meters of optical fibre*
FOR IMMEDIATE RELEASE
27 June 2024: Exegy, a leading developer of high-performance trading solutions for capital markets, in collaboration with AMD, today announced a record-breaking actionable latency of up to 13.9 ns for the execution of a trade in the latest STAC T0 report. For the first time ever, this was achieved using an off-the-shelf solution with an asynchronous implementation for the critical path of the algorithm and network stack.
With up to a 49% latency reduction, this is the lowest tick-to-trade (the time it takes for an order to be sent to the exchange in response to a market data update) latency performance of any published STAC-T0 benchmark.
Exegy is the only capital markets technology provider offering a comprehensive FPGA development framework specifically designed for ultra-low latency financial applications. This is achieved through providing the standardization needed to build an FPGA-based trading platform, enabling developers to focus on optimizing their core business logic. Exegy is unique in offering a combination of reference designs, expertise, and support, allowing firms to reduce time-to-production when developing ultra-low latency trading systems.
nxFramework – Exegy’s production-proven FPGA development framework – provides clients with reference designs to create and manage a large portfolio of applications, such as pre-trade risk check gateways and tick-to-trade electronic trading platforms. The Exegy and AMD collaboration combines innovative hardware with production-tested applications to produce groundbreaking performance with an off-the-shelf solution, giving clients the lowest latency in the easiest way possible.
Olivier Cousin, Director FPGA Solutions of Exegy, says: “Bringing such a significant latency reduction in tick-to-trade execution is an important boost to the industry. It underscores the success of our collaboration with AMD, which began last year, and highlights the benefits of Exegy’s ongoing dedication to reducing latency. Even more important is that we’ve created a blueprint for how FPGA development can and should be done – with no compromise on speed or flexibility.” He continues: “Our clients can now focus on their strategies with the knowledge that the rest of the AMD Alveo™ UL3524 accelerator card implementation is fully optimized for low-latency trading.”
The AMD and Exegy collaboration combines hardware acceleration, FPGA flexibility, and low-latency networking to ensure high performance and determinism. The testing measurements are precise as the Exegy team managed to reduce the jitter to 200 picoseconds or up to 10x lower than in previous benchmarks. This ensures the accuracy of the STAC-T0 results. The benchmark is designed to use industry-standard hardware and is therefore fully transparent and reproducible. As part of their subscription, existing Exegy customers received the update to the IP cores which enabled this latency record.
“In ultra-low latency trading, a nanosecond can determine the difference between a profitable or losing trade,” said Girish Malipeddi, Director of Product Marketing – AECG-Data Center, AMD. Adding, “This benchmark shows independently quantified, verified, real-world results showcasing how AMD and Exegy continue to push the boundaries and possibilities in high-speed trading and financial technologies as a whole.”
STAC benchmarks are the industry standard for testing solutions that enable high-speed analytics on time-series tick data. The STAC-T0 benchmark evaluates tick-to-trade network-I/O latency. The previous lowest benchmark speed of 24.2ns also came from utilizing AMD accelerators.
To learn more about the benchmark, please see the results of the STAC-T0 survey here.
*Source: Latency in optical fiber systems, Joseph Coffrey, 2017.
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About Exegy
Exegy is a global leader in intelligent market data, advanced trading and execution systems, and future-proof technology and infrastructure. Backed by Marlin Equity Partners, Exegy serves as a strategic partner to the complete ecosystem of the buy-side, sell-side, exchanges, and ISV/technology firms around the globe.
For more information, please visit www.exegy.com
