NEW YORK, April 20, 2015 /PRNewswire-iReach/ -- Thesys Technologies, LLC today announced that Convergex, an agency-focused global brokerage and trading related services firm, has re-built its Millennium alternative trading system (ATS) using the Thesys Matching Engine (TheME) as the foundation. Thesys was able to build a state-of-the-art new Millennium ATS for Convergex in just five months.
"We are thrilled with the accomplishments of the Thesys team and their technology, as we were able to launch a new, leading-edge version of Millennium within a short timeframe and at a reasonable cost," said Oliver Sung, Convergex managing director and head of electronic execution. "Not only are our clients benefiting from the improved stability and extremely fast response times, but TheME's configurability will make it easy for us to introduce exciting enhancements to the platform in the future."
Arzhang Kamarei, managing partner of Thesys added, "We were thrilled that Convergex put their trust in us to re-build their Millennium ATS and it was very satisfying that we were able to meet their stringent technical, regulatory and compliance needs as well. We look forward to growing our relationship with Convergex as we add additional products and services in the future."
Thesys engineered TheME for maximum efficiency and industry leading performance. TheMe provides the lowest latency matching capabilities of any equities matching engine, with ninety percent of observed trades occurring in 30 or fewer microseconds, and the fastest matches happening in under 15 microseconds. For clients who are less latency sensitive, TheME can be configured to run using a smaller hardware footprint, making the platform simultaneously one of the fastest and lowest cost matching engines on the market.
With TheME, Thesys also provides a Fair Matching Audit, a feature which allows its clients to verify that all participants in the matching engine are treated fairly with regards to their matches. This feature allows the matching engine to replay trades from any given day on a post-trade basis in an anonymized fashion allowing clients to ensure that all executions were made fairly while maintaining the confidentiality of that trade data. Additionally, the platform includes high resiliency and extensive disaster recovery options, the availability of dark or lit platforms with feeds, Rule 15c3-5 market access risk checks, and a series of business and compliance reporting packages as well as Trade Reporting (ACT) and OATS submissions. TheME can also be modified for other asset classes and securities, including FX, futures, and fixed income securities.
For more information on TheME, please visit our website at www.thesystech.com.
About Thesys Technology LLC
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 solutions on the market, including large, custom deployments of matching engines and compliance technology at a fraction of the cost of other providers. Thesys maintains a leadership position within the low-latency trading industry.
Media Contact: Kelly Jordan, Thesys Technologies, 646-495-6395, firstname.lastname@example.org
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SOURCE Thesys Technologies