Vela launches next generation FPGA-enabled ticker plant appliance for US equities
Vela, an independent provider of trading and market access technology for global multi-asset electronic trading, has launched its latest ultra-low latency Ticker Plant Appliance for US Equities.
In partnership with Enyx, a developer and provider of ultra-low latency technologies and solutions for the financial industry, Vela has integrated Enyx’s nxFeed FPGA card into the appliance to provide a step-change in capacity and performance on the smallest of footprints.
Vela’s latest FPGA-enabled Ticker Plant Appliance leverages a hybrid model with Enyx nxFeed handling the decoding, line arbitration, filtering, and full order management & book building in its FPGA card and Vela providing the normalisation and distribution via its flagship SMDS feed-handler API. This unique blend is designed to deliver maximum capacity on a minimal footprint that is built on the latest generation commodity hardware. The result is a single 2u device processing the full set of US Equity Markets with over 50% reduction in latency against an equivalent software only solution, that uses multicast to distribute to an unlimited number of downstream devices. For additional latency reductions, the service can be run in-process with the client’s application, providing sub-10 microsecond latency at the 99.9999 percentile.
Vela’s Ticker Plant Appliances are fully-managed devices and this latest offering allows clients to capitalise on the benefits of FPGA technology at scale, without any of the operational overheads of managing a separate or niche technology stack. Delivered through the same API as Vela’s existing set of global feed handlers, existing clients can realize the performance and cost benefits rapidly and continue to access over 250 markets supported by Vela’s feed handling software.
Jen Nayar, CEO at Vela, says: “We don’t believe clients should have to compromise on performance to achieve scale, and our latest generation FPGA-enabled ticker plant delivers both, while also ensuring our clients are able to continue to streamline their operations and reduce total cost of ownership.” She continued, “Since we’re leveraging the smallest possible technology footprint, some of these markets – for example, all the major US equities – can be configured on a single appliance. We’re excited about this new offering and look forward to continue delivering cost-effective and innovative electronic trading and market data solutions to the global marketplace.”
Laurent de Barry, Founder & Managing Director, Trading Solutions at Enyx, says, “Integrating the nxFeed market data feed handler into Vela’s SMDS product delivers the ultra-low latency performance of an FPGA-powered solution without disrupting the client’s operations.” Adding, “Our trading solutions -- from market data distribution to order execution -- run on FPGA PCIe cards that can virtually be deployed in any server. This gives Vela the opportunity to design and deploy flexible solutions to further improve performance for their clients while reducing footprint.”