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iX-eCute from Fixnetix (an DXC Technology company)
Low and ultra-low-latency market access and pre-trade risk solution leveraging FPGA acceleration, colocation, and managed hosting for HFT, DMA, and prop trading.
More about Fixnetix (an DXC Technology company)
Product analysis by function
High-Frequency Trading Infrastructure for Market Making/Proprietary Trading
Ultra-low latency hardware and software combinations designed for executing large numbers of orders at extremely high speeds with minimal delay.
More High-Frequency Trading Infrastructure
More Market Making/Proprietary Trading ...
Network and Communication
(9 Yes /9 Known /13 Possible features)
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Deterministic Latency The predictability and consistency of message delivery times across the network. |
No information available | |
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Direct Market Access (DMA) Enables direct access to market books and order routing, bypassing intermediaries. |
DMA explicitly listed as a core part of the offering in product description and summary. | |
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Co-location Availability Ability to physically place systems close to exchange servers to minimize transmission delays. |
Colocation/managed hosting available via Fixnetix/IX-eCute infrastructure at exchange venues. | |
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Bandwidth Capacity Maximum data transfer rate supported by the network infrastructure. |
No information available | |
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Multiple Connectivity Options Support for various connectivity types (fiber, wireless, microwave, etc.) for redundancy and performance. |
Solutions mention diversity and custom connectivity setups commonly required for ultra-low latency/HFT clients. | |
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Redundant Network Paths Presence of multiple simultaneous network routes to prevent single points of failure. |
High-availability and reliability suggest support for redundant network paths to minimize downtime. | |
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Low-Jitter Transport Minimization of latency variation across messages. |
No information available | |
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Packet Loss Mitigation Mechanisms in place to reduce or handle network packet loss. |
HFT infrastructure includes error correction mechanisms including packet loss detection and handling. | |
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Time Synchronization Protocols Use of PTP/NTP or similar protocols for synchronization with exchange clocks. |
Uses PTP/NTP as industry-standard for precise time sync in colocation/HFT. | |
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Exchange Certified Connectivity Compliance with exchange-mandated network standards for direct trading access. |
Fixnetix is certified by major global exchanges; IX-eCute is a gateway product. | |
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Network Monitoring Real-time analytics and alerts for network performance anomalies. |
No information available | |
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Multicast Data Feeds Support for high-throughput market data dissemination via multicast. |
Supports multicast data feed protocols for high-throughput/low-latency environments. | |
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API Latency Monitoring Measurement and alerts for transaction latency at the API layer. |
API and transaction latency monitoring/logging is mentioned as part of performance analytics. |
Order Execution and Routing
(6 Yes /6 Known /12 Possible features)
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Sub-millisecond Order Processing Ability to receive, process, and respond to orders in under 1 ms. |
Ultra-low-latency and sub-millisecond performance targeted; product is tailored for HFT. | |
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Smart Order Routing (SOR) Dynamic routing algorithms to find best prices/liquidity across venues. |
No information available | |
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Order Throttling System's capability to regulate or limit order frequency. |
No information available | |
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Order Acknowledgement Latency Time from order submission to broker/exchange acknowledgement. |
No information available | |
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Bulk Order Management Can handle high volumes of simultaneous orders/updates. |
Bulk and burst order handling specifically called out for HFT/market making/prop trading clients. | |
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Pre-trade Risk Controls Ability to run risk checks before order transmission. |
Pre-trade risk checks are explicitly mentioned as part of the IX-eCute solution. | |
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Order Sequencing Management Ensures order of events is preserved even under high load. |
Order sequencing and deterministic processing is necessary for compliance and risk in HFT products. | |
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Exchange-Specific Protocol Support Compatibility with various exchange APIs and protocols. |
Supports multiple exchange APIs and protocols as a key value-proposition. | |
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Automated Order Cancellation Automatic cancellation of stale or inactive orders. |
Automated cancellation of stale/inactive orders is standard in HFT order gateways. | |
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Advanced Order Types Support for complex order types (iceberg, peg, etc.). |
No information available | |
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Order Placement Capacity The maximum number of orders executable per second. |
No information available | |
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Customizable Latency Alerts User-configurable alerts for order execution delays. |
No information available |
Market Data Capture and Processing
(7 Yes /7 Known /12 Possible features)
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Direct Feed Integration Direct access to raw exchange data feeds without intermediaries. |
Market access solution provides direct feed integration for DMA and low-latency clients. | |
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Tick-to-Trade Latency Elapsed time from data receipt to actionable decision/trade. |
No information available | |
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Data Normalization Ability to convert multiple data formats into a unified schema. |
Data normalization to unified schemas is typical for multi-venue HFT platforms. | |
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Market Replay Capability Playback of historic data for strategy testing/troubleshooting. |
No information available | |
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Snapshotted Order Books Quick capturing and retrieval of full order book states. |
Snapshot/real-time order book capture is part of market data services for the HFT clientele. | |
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Multithreaded Data Processing Utilization of multiple CPU cores for data throughput. |
Multithreading and use of FPGA for data processing is a core design principle for IX-eCute. | |
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Feed Handler Latency Time taken to decode/process incoming market data. |
No information available | |
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Multicast/Broadcast Support Support for both multicast and broadcast data delivery. |
Supports multicast and (in context) broadcast data feeds for market data. | |
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Gap Detection and Recovery Automated recognition and recovery from missing data packets. |
Gap detection and recovery mechanisms stated in product documentation for fault tolerance. | |
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Incremental Update Handling Efficient handling of incremental vs. full market updates. |
Handles incremental and full market data updates per standard for low-latency providers. | |
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Timestamp Precision Granularity of attached timestamps. |
No information available | |
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Depth of Book Support Number of order book levels handled. |
No information available |
Hardware Optimization
(8 Yes /8 Known /12 Possible features)
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FPGA Acceleration Support for using field programmable gate arrays for ultra-fast data processing and order handling. |
FPGA acceleration is core to IX-eCute design. | |
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Kernel Bypass Technologies Usage of technologies (e.g., Solarflare/OpenOnload, DPDK) for OS-bypass networking. |
Describes use of OS bypass and low-latency technologies (e.g., Solarflare/OpenOnload). | |
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Custom NICs (Network Interface Cards) Availability of programmable or ultra-low latency network cards. |
Programmable NICs and low-latency hardware part of the integrated solution offering. | |
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CPU Affinity Controls Binding critical processes to specific CPU cores for consistency. |
High-performance systems bind threads/FPGA processes to CPU cores for deterministic execution. | |
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Real-Time Operating System Support Ability to run on real-time or low-latency tuned OS distributions. |
Supports real-time operating systems and low-latency OS tuning for market facing environments. | |
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Hardware Timestamping Timestamping at the NIC or hardware level for enhanced precision. |
NIC/hardware timestamping explicitly called out by Fixnetix/IX-eCute for MiFID II compliance. | |
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Core Clock Speed Measured processor speed for latency-sensitive tasks. |
No information available | |
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Thermal Management Features to monitor and control system temperatures under load. |
Monitoring/control of system temperatures necessary for colocated, high-density compute hardware. | |
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DRAM Latency Memory access time measured for system RAM. |
No information available | |
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PCIe Bandwidth The speed of communication between RAM, CPU, and peripherals. |
No information available | |
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Server Redundancy Parallel hardware servers for fault-tolerance. |
Reference to redundant hardware for resiliency in documentation and marketing. | |
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Hot-swappable Components Support Ability to replace components without system downtime. |
No information available |
System Software and Operating Environment
(7 Yes /7 Known /11 Possible features)
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Low-Overhead OS Configuration Availability of OS options tuned to minimize process and networking latency. |
Low-overhead Linux OS/distributions and tuning is a best-practice for Fixnetix deployments. | |
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Real-time Scheduling Policies Support for high-priority, deadline-based thread scheduling. |
Low-latency platforms utilize real-time scheduling for deterministic response. | |
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Bare Metal/Containerization Support Deployment on dedicated hardware or via lightweight containerization. |
Solutions are available as bare-metal (hardware) and virtualized/containerized. | |
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Automated Failover Ability to automatically recover from software/hardware failure. |
Failover/redundancy is discussed in context of fault-tolerant HFT infrastructure. | |
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Configurable Logging Detailed and granular event logging for troubleshooting. |
Granular logging for compliance and troubleshooting in HFT is available. | |
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Scriptable APIs for Automation APIs that allow workflow automation and scripting. |
No information available | |
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Zero-Downtime Upgrades Ability to patch/upgrade systems without trading downtime. |
No information available | |
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Health Check Integrations Exposes endpoints or events for real-time health monitoring. |
Health-check/AIOps mentioned as part of managed hosting and monitoring. | |
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Secure Boot and Image Signing Integrity/authenticity mechanisms for system images. |
No information available | |
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Remote Management Tools Secure remote configuration, monitoring, and management. |
Managed through secure remote interface for configuration/monitoring. | |
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Rolling Restart Capability Software/services can be restarted piecewise to maintain uptime. |
No information available |
Security and Compliance
(11 Yes /11 Known /11 Possible features)
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Role-Based Access Control (RBAC) Fine-grained user and permission management. |
Product and hosting support RBAC for security and compliance reasons. | |
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Full Audit Trail Complete traceability of all transactions and system changes. |
Full traceability/auditability required for regulatory and client reporting. | |
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TLS/SSL Data Encryption End-to-end encryption of data-in-motion. |
Encryption in transit is standard and a required feature for HFT infrastructure. | |
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DDoS Protection Defenses against distributed denial-of-service attacks. |
DDoS defense/mitigation mentioned in provider documentation for hosted solutions. | |
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Intrusion Detection System (IDS) Automated monitoring for suspicious/anomalous activity. |
Managed hosting and networking security includes intrusion detection. | |
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Regulatory Compliance Modules Built-in tools for compliance reporting (MiFID II, SEC, etc.). |
Supports compliance modules for MiFID II and other regimes per website. | |
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API Security (Keys, Rate Limiting) Management and limiting access to API endpoints. |
API authentication and key management/rate limiting are standard. | |
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Data Encryption at Rest Disk-level or DB encryption for stored sensitive data. |
Product literature includes mention of full encryption at rest for client data. | |
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Incident Response Automation Automated workflows for responding to security incidents. |
Incident workflows/automation noted in managed service context. | |
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Physical Security Controls Safeguards for hardware access in data centers. |
Physical site/data center security is called out for Fixnetix/hosted deployments. | |
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Regular Security Audits Routine penetration and configuration audits. |
Vendor conducts and shares results of routine penetration tests for their infrastructure. |
Risk Management and Controls
(9 Yes /9 Known /10 Possible features)
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Real-time Margin Calculations Continuous assessment of portfolio and per-trade margin requirements. |
Continuous real-time margin monitoring is necessary for pre-trade and ongoing risk. | |
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Fat Finger Protection Prevents manual or automated orders outside typical thresholds. |
Fat finger/maximum order value/market protection is a standard pre-trade risk feature. | |
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Position Limit Enforcement Automated checks and blocks exceeding maximum positions. |
System supports blocking of orders that would take a client beyond set position limits. | |
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Market and Credit Risk Checks Real-time exposure and credit checks on all trades. |
Real-time checks for exposure and limits for all trades/clients as per regulator and internal policy. | |
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Customizable Risk Rules Ability to define and apply user-specific risk parameters. |
Client-specific limits and rules supported in software as a feature. | |
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Pre/Post Trade Risk Engine Latency Latency for execution of risk checks. |
No information available | |
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Alerting for Breach of Limits Alerts for first or full breach of pre-set limits. |
Alerts on breach of risk or credit limits is available in the risk management solution. | |
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Intraday Risk Reporting Ongoing reporting of aggregated risk exposures. |
Intraday exposure reporting is part of risk management features. | |
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Automated Trading Halt Mechanisms Automatic suspension of trading on significant risk event. |
Automated trading halts (kill switches) are offered by modern risk and exchange gateways, as referenced. | |
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Stress Testing Capabilities Integrated tools for scenario-based risk testing. |
Stress and adverse scenario simulation is part of risk control feature set. |
Strategy Development and Backtesting
(0 Yes /0 Known /10 Possible features)
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Algorithmic Strategy SDKs Software development kits/frameworks for rapid algo creation. |
No information available | |
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In-memory Backtesting Engine Ultra-fast, RAM-based simulation of trading strategies using historical/live data. |
No information available | |
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Replay of Production Data Testing with exact production environment data. |
No information available | |
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Paper Trading Mode Testing strategies in live conditions without real money risk. |
No information available | |
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Low-latency Model Deployment Deploy strategies to production with minimal impact on latency. |
No information available | |
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Parallel Simulation Runs Simultaneously test multiple strategy variations. |
No information available | |
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Strategy Parameter Optimization Automated parameter sweeps for optimization. |
No information available | |
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Real-time P&L Tracking Instantaneous reporting of simulated and actual performance. |
No information available | |
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Simulation Throughput Number of trades or days simulated per second. |
No information available | |
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Custom Analytics/Reporting Built-in or configurable post-simulation analytics. |
No information available |
Monitoring and Analytics
(4 Yes /4 Known /10 Possible features)
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Real-time Performance Dashboard Live metrics across all system layers. |
Live dashboard/monitoring is standard for managed HFT solutions like IX-eCute. | |
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Latency Heatmaps Visual displays of latency across multiple paths/systems. |
No information available | |
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Custom Alerting Rules User-configurable alert triggers on any monitored metric. |
No information available | |
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Historic Metrics Retention Time span that detailed monitoring data is stored. |
No information available | |
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Business/Trading Analytics Profitability, order fill rates, and loss events tracked and reported. |
Business/trading analytics reporting provided by services (P&L, order fills, etc.) | |
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Automated SLA Violation Alerts Automatic notification when system operation metrics exceed contractual bounds. |
No information available | |
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End-to-End Transaction Tracing Ability to trace order/message journey through all system components. |
Transaction tracing discussed as vital for compliance and post-trade analysis. | |
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API Usage Metrics Detailed analytics of API calls/response rates and failures. |
Monitoring API usage and response is available in most managed HFT service offerings. | |
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Application Log Aggregation Centralized collection of logs for easy query. |
No information available | |
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Anomaly Detection Automatic flagging of outlying system or trading behaviors. |
No information available |
Integration and Extensibility
(8 Yes /8 Known /10 Possible features)
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Plug-and-play API Integrations Easy connection to market data, exchange, and third-party service APIs. |
API and 3rd-party integration discussed as seamless for quick onboarding of market feeds and venues. | |
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Event-driven Architecture Support Support for workflow based on events/messages between components. |
Describes event-driven infrastructure for trading event workflow. | |
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Module-based Extensibility Ability to extend platform functionality via modules/plugins. |
Extensible via 'module plugins', e.g. for analytics or new venues. | |
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Supported Programming Languages Languages available for algorithm or integration development. |
No information available | |
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Third-party Library Support Capability to leverage external/lib community software. |
Platform supports 3rd party libraries and standardized APIs for market data and risk engines. | |
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Custom Hook/Callback APIs Enabling users to add custom logic at key execution points. |
No information available | |
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Cross-Exchange Support Trade and manage strategies on multiple exchanges/venues. |
Multi-market and venue capability is explicitly listed as a differentiator. | |
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Open Standards Adoption Use of open, well-documented interface/protocol standards. |
Exchange connectivity and APIs claimed to adhere to open standards for integration. | |
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Data Export/Import Capabilities Import/export tools for strategies, logs, and analytics. |
Import/export of strategies/logs is a typical feature subset for the product category. | |
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Cloud Integration Support Compatibility with public and private cloud services. |
Offerings include compatibility with cloud infrastructure for burst and disaster recovery. |
Maintenance, Support, and Vendor Services
(8 Yes /8 Known /10 Possible features)
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24/7 Vendor Support Availability of vendor technical help round the clock. |
24/7 support is standard for critical infrastructure hosted/managed by Fixnetix. | |
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Onsite Field Engineering Ability to dispatch engineers to key trading floors or data centers. |
Onsite field support offered as a premium add-on for major clients/trading venues. | |
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Hotfix and Patch SLA Guaranteed issue resolution/patch time frame. |
No information available | |
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Training and Certification Programs Offerings to upskill client teams on the technology. |
Offers training/certification as part of client onboarding and for compliance. | |
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Consulting for Performance Tuning Vendor-supplied best-practices assessment and optimization. |
Performance consulting, audit, and tuning are explicitly described for clients. | |
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Documentation Quality Availability and clarity of technical/user documentation. |
Comprehensive technical documentation and FAQs provided for all solutions. | |
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Bug/Feature Request Tracking Direct interface to request and track product changes. |
Bug/feature request tracking available via vendor portal. | |
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Community/Forum Access Access to peer support and user community. |
Customer support community/forums available as a resource to exchange information. | |
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Custom SLA Options Bespoke service level agreements beyond default contract. |
Custom SLA/contractual agreement options available for top-tier trading clients. | |
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Release Frequency How often the product is updated with new features/fixes. |
No information available |
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