Specialist FPGA-enabled high-performance networking platform provider Metamako, and Velocimetrics, a provider of business flow tracking and performance analytics, have announced a collaboration to deliver analytics and time stamping “beyond what is required by MiFID II”.
The firms say Metamako’s low-latency, FPGA-enabled network devices will deliver lossless data capture and nanosecond-precision time stamping, while Velocimetrics’ VMX monitoring software will consume and analyse the ‘raw’ data to enable financial institutions to measure, monitor and gain deep insight into their business/trade flows with unprecedented speed, accuracy and flexibility.
Velocimetrics already provides applications for end-to-end visibility of trading data through its VMX EndtoEnd offering, and now, the firms say, the collaboration enables capital market firms to deploy a solution that delivers insights significantly ‘closer to the flow’ (i.e. within the actual network). “This will alert clients to any potential problems much faster than before, allow for quicker drill-down on the root cause analysis of problems, and to alter trading strategies accordingly to optimise trading,” the firms say.
“Our technologies work extremely well together, not least because Metamako uses a packet time format which is easy for our systems to interpret and use,” says Steve Colwill, CEO of Velocimetrics. “Its soft network approach provides the basis of a flexible and dynamic monitoring fabric required by evolving regulatory and operational demands. More prosaically, as aggregation and tapping are done on a single device, a lot of rack space can be saved; this is an important consideration in collocation, as rack space is very expensive.”
Kevin Covington, CEO of Metamako, adds, “Velocimetrics and Metamako share many clients in the capital markets space, so working together is a very natural route to take. Velocimetrics is yet another ecosystem partner which leverages our low-latency, FPGA-enabled devices as part of a business-critical solution.”
By employing Metamako devices ‘in the network’ as opposed to ‘tapped off the network’, the firms say the collaborative solution will enable packets to be accurately time stamped, aggregated and conditionally routed to VMX’s high-volume, small form-factor capture and analytics technologies.
The solution will provide a complete audit trail and the added benefit of combining and rationalising many components, typically used in the process of building-out network centric analytics, reducing the total cost of ownership.