TransFICC enhances Aeron messaging to support multiple cluster nodes

TransFICC, a specialist provider of low-latency connectivity and workflow services for Fixed Income and Derivatives Markets, has completed a dedicated enhancement to Aeron messaging. 

Aeron is ideal for financial markets trading as it combines fast and reliable messaging. Designed for the Cloud or Deployed servers, Aeron is the fastest available platform, capable of managing more than 80,000 messages a second on a single thread, yet also providing a robust and reliable process.

Martin Thompson, Founder of Real Logic, developed the Aeron clustering enhancements, which allow firms to run the cluster on fewer machines, whilst also enabling fast messaging throughput – the fastest available in financial markets. Thompson is a Java Champion with more than 25 years of experience building distributed and high-performance computing systems. Most recently he has worked on Aeron, Simple Binary Encoding (SBE) and the Disruptor.

TransFICC sponsored the Aeron enhancement to improve server utilisation for its clients. With Fixed Income electronic trading based on Request for Quote (RFQ) functionality, each stage is tracked, time stamped and recorded – generating large amounts of data. Additionally, the combination of large numbers of clients being quoted, pricing models requiring sizeable amounts of market data, and a significant number of instruments being quoted, the result is dealers’ systems having to manage a huge amount of data throughput. 

“Aeron has a clear focus on speed, reliability and transparency. Where many messaging products are a swiss army knife; Aeron is a scalpel,” says Thompson. “This enhancement increases Aeron’s server utilisation, enabling firms to operate using fewer machines. In benchmark tests Aeron beats all open source messaging systems, for example is has 20 times lower latency than Kafka.

“Equally important, we have made this version of Aeron available as open source, as we continue to collaborate with the industry.”

Judd Gaddie, co-founder of TransFICC, says: “We believe that Aeron is the best technology for Fixed Income trading and these clustering enhancements further improve performance and reliability, enabling firms to use up to ten times less hardware than legacy Fixed Income trading systems. Our solution helps clients to manage diverse workflows and to connect to multiple venues, whilst also supporting ordering, reliability and flow control.”

TransFICC resolves the issue of market fragmentation by providing banks and asset managers with a unified low-latency, robust and scalable API. Its ‘One API for eTrading’ platform provides connectivity to multiple trading venues while supporting a variety of workflows across asset classes such as Rates and Credit Bonds, and Interest Rate Swaps.

TransFICC enables financial institutions to access their required eTrading venues, while streamlining technology requirements and reducing operational costs.