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BrokerTec Says New Trading Platform Boosts Order Volume Tenfold

The firm said it built the high-speed trading system with a modified version of Nasdaq OMX's Genium INET system.

BrokerTec, the electronic fixed income arm of interdealer broker ICAP, announced the launch of a trading system it claims can boost trade order volume tenfold, while potentially lowering latency by as much as 50 times beneath what its older system was capable of.

The firm said its latest trading platform was built using a modified version of Nasdaq OMX's Genium INET system. The average latency on the new offering is less than 200 microseconds, a dramatic decrease from the older system's 10 millisecond average latency, the BrokerTec said.

The company noted that a number of high-profile Wall Street firms are now using its trading system, including J.P. Morgan and Bank of America Merrill Lynch.

"The new low latency platform has a balance between the needs of the manual trader and those utilizing automated trading tools," Ravit Mandell, J.P. Morgan's head of quantitative market making said in a statement.

As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced Trading in 2010, Grant's news analysis has touched on everything from the latest ... View Full Bio

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