OnX Enterprise Solutions, a provider of enterprise data center solutions, along with Intel (News - Alert) and fellow informal Technology Consortium members, recently expanded its testing of trading functions. Also, OnX named new members in its technology consortium that includes Intel, Dell, Solarflare (News - Alert), Equinix, ETrading Software, Edge Technology Group and few other renowned companies.
According to the press release, HP, Mellanox (News - Alert), Gnodal, OnixS, TelX and few other companies have joined the Technology Consortium, which focuses on designing and testing a high performance infrastructure to handle Financial Information Exchange (FIX)Protocol messaging covering recognized interparty legs in the trade cycle.
The FIX protocol is an electronic communications protocol initiated in 1992 for international real-time exchange of information related to the securities transactions and markets. With trillions of dollars traded annually on the NASDAQ alone, financial service entities are investing heavily in optimizing electronic trading and employing direct market access (DMA) to increase their speed to financial markets. Managing the delivery of trading applications and keeping latency low increasingly requires an understanding of the FIX protocol.
"We are delighted with the Consortium's results which started in Q4 2011," said David Blandford, OnX VP FSI Solutions. "The Research Report commented on new subjects which added value to the market's focus. We are seeing a multitude of initiatives from within the community momentum that we are creating -- addressing optimum combinations of integrated technology and approaches to address evolving market practices. We believe that there is a market requirement for a full-service based value proposition of technology, application and managed service." Blandford continued, "OnX will focus on full co-located bundles for high-end trading which will insulate clients from technology complexity and enable agility to changing market conditions, converting costly Capex to a flexible monthly Opex charges."
In related news, OnX Enterprise Solutions recently unveiled its HP Cloud Center of Excellence at OnX's global headquarters in Toronto, Canada. In February, OnX opened an HP center as part of their OnX Federated Cloud Center of Excellence (FCCE) at its US headquarters in New York City. This follows OnX being named HP Partner in Excellence Technology Services Growth last February, and recognition as HP Software & Solutions Partner of the Year for the second year in a row in 2011.
Edited by Rich Steeves