Millennium SOR. Fast. Flexible. Robust.

Transcription

1 Millennium SOR Fast. Flexible. Robust.

2 Millennium SOR Millennium SOR offers a single platform capable of housing multiple asset classes, numerous order routing algorithms and pre-trade risk control mechanisms. Fast. Flexible. Robust. Your easy route to new strategies, rules and products A low latency, high throughput, smart order routing platform Competition and regulation in the global financial markets have created the need for high performance smart order routing systems. Millennium SOR offers marketplaces a single platform capable of housing multiple asset classes, numerous order routing algorithms and pre-trade risk control mechanisms. Our patented rule based complex event processing engine allows users to extend the system to include new routing strategies, new gating rules for sponsored access and new products virtually on-the-fly with minimal changes to the underlying source code, freeing it from the constraints of more traditionally designed systems. Enjoy per-client-persymbol granularity. Efficient liquidity management The smart order router s FIX input gateway separates orders that require intelligent management from directed orders that do not require any intelligence. The directed orders bypass smart order routing logic for ultra low latency This gateway may also be load balanced by firm to provide dedicated and unhindered throughput for high frequency trading. The capability to set best execution parameters and pre-trade gating rules at the lowest granularity of per-client-per-symbol and the ability to provide the routing decision point snapshots of all the applicable best execution criteria on an order-by-order basis are key features of Millennium SOR. Configurable routing logic and execution management The order routing and gating logic is configurable intraday. The user may define the logic based on various static and dynamic market events such as scheduled session transitions and post trade crossing sessions, an important feature in dealing with dark pools. The system may also perform dynamic market ranking based on latency, trade volume, liquidity and overall execution quality. The advanced execution management capability of the order router enables it to perform dual posting strategies across external or internal execution venues. 01 Millennium SOR / Fast. Flexible. Robust.

3 Groundbreaking technology Here comes something smarter Designed to process large order volumes at high speed Flexibility and faster time to market performance and scalability Millennium SOR is driven by a patented rule based complex event processing engine known as BID (Business Innovation Dynamically), designed for flexibility, enabling rapid customisation and quick deployment. The technology provides: Dynamic schema where the fields, tables and messages used by the system are configured by implementation consultants as opposed to being defined in code Dynamic business rules where the order routing logic is expressed in business rules that are configured at the point of implementation. Such rules can be added and changed without any change to the underlying code. Our systems are designed to process large order volumes at high speed. Parallel processing architecture coupled with in-memory processing and proprietary high speed middleware provides high order throughput with extremely low latency. Processing clusters called partitions process orders and market data for a given group of securities or users. Adding more partitions provides a linear increase in system capacity, thus offering almost limitless scalability. Availability Fault tolerance is implemented at the application level. Two identical processes designated as primary and secondary, running on two separate machines coupled with a redundant, high availability network give missioncritical levels of fault tolerance better than traditional hardware based architecture, at a fraction of the cost. The system is immune to machine failure and network disconnections and when configured with a hot backup site can seamlessly endure site loss. External connectivity through programmable message gateways Interconnectivity to external systems is through message gateways at the edge of the system that perform message translations from external formats to a single internal representation. The programmable message gateway uses BID technology to provide rule based message transformation and mapping, thus allowing support for any interconnect format. 2 identical processes for improved fault tolerance Millennium SOR / Fast. Flexible. Robust. Fields, tables and messages are configured by implementation consultants as opposed to being defined in code.

4 System performance The key facts and figures <100 microseconds end-end latency The baseline configuration of Millennium S0R as a single partition on commodity hardware includes a 10,000 orders per second FIX gateway, 100,000 market data updates per second ticker plant and an end-end latency of less than 100 microseconds. Key functional features Pre-trade risk management Consolidated order book Heat mapping Complex order types Configurable execution strategies Execution management Intelligent order management Quantitative trading strategies Thin client trader workstation Routing algorithms Key technical features Event driven, message based, distributed architecture Software fault tolerant User defined routing rules Spatial subscription Partitioning for scalability Operating system: Solaris or Linux Database: Oracle. Key performance features Sustained market data message rate of over 100,000 updates a second per partition Sustained order rate of over 10,000 orders a second per partition End-end latency of under 100 microseconds. Related products Millennium Clearing Multi-asset class clearing and settlement platform Millennium CSD Multi-asset class central securities depository Millennium Enterprise Innovative IT infrastructures for capital markets firms Millennium Exchange Flexible trading platform for financial markets Millennium Gateway Real-time user-programmable protocol converter Millennium Hoteliers Smart, green and future-proof guest services Featuring a sustained market data message rate of over 100,000 updates a second per partition. Decision point snapshots Trading and risk management alerts Order audit trails. MillenniumIT Comprehensive IT solutions provider Millennium LiveOps High-availability IT operations for capital markets firms 10 k Millennium MarketData Efficient data access for financial markets Millennium NewClear Multi-asset clearing and settlement for financial markets orders a second per partition Millennium StreetAccess Trader workstation for the SOR product Millennium Surveillance Real-time surveillance and market monitoring platform 04 Millennium SOR / Fast. Flexible. Robust.

5 Our offices Boston Technologies (USA) Inc. 245 First Street 18th Floor Cambridge MA United States of America Telephone Fax Jersey City Technologies (USA) Inc. 100 Town Square Place Suite 405 Jersey City NJ United States of America Telephone Fax London MillenniumIT 10 Paternoster Square London EC4M 7LS United Kingdom Telephone +44 (0) Fax +44 (0) Colombo Technologies Pvt Ltd 1 Millennium Drive Malabe Sri Lanka Telephone Fax Mumbai Technologies (India) Private Limited 408, Level 4, Dynasty Business Park Andheri Kurla Road Andheri (East), Mumbai India Telephone Fax Technologies (Pvt) Ltd