NEW YORK, Nov. 18, 2009 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group (Nasdaq:NDAQ) announced today that it has selected Correlix Inc. to provide real-time latency insight to its customers. The service will allow NASDAQ OMX customers access to independent real-time latency measurement information for intraday and post-day analytics.
NASDAQ OMX will initially provide latency measurements for The NASDAQ Stock Market. Through the Correlix RaceTeam(TM) service subscription, NASDAQ Stock Market trading customers will be able to monitor and analyze real-time latency information associated with their orders, executions and market data. Further plans include expanding the service to make latency information available for other NASDAQ OMX markets around the world.
Eric Noll, Executive Vice President, NASDAQ OMX said, "This new service addresses an important customer need, as latency has become a critical means to compete and craft trading strategies. Through the RaceTeam service we offer objective latency benchmarking that can help customers improve on trade execution."
Shawn Melamed, Founder and CEO, Correlix said, "We are excited to have NASDAQ OMX as the first global exchange group connecting into the RaceTeam service network, providing objective latency transparency to its customers. This service is designed to help market participants optimize trading strategies, and ultimately maximize operational efficiency."
Open RaceTeam trials for NASDAQ Stock Market members will begin in the first quarter of 2010. For participation information, please contact your NASDAQ OMX or Correlix representative.
About Correlix Race Team(TM)
Correlix RaceTeam is an objective venue-neutral service which enables trading firms to manage and receive Real-Time Latency Intelligence(TM) information from various trading venues. The service facilitates greater trading-latency insight into each transaction and leads to optimized trading strategies, improved trade execution and streamlined inter-party latency problem resolution.
Correlix Inc., a leader in latency intelligence solutions, offers RaceTeam(TM), the leading latency management service providing real-time latency visibility for buy-side, sell-side and liquidity venues. Customers rely on Correlix to monitor, measure and minimize latency in trade execution and market data flow in real-time. This empowers users to execute a trade or deliver and act on market data in fewer microseconds. The company's global client base encompasses the world's largest high frequency trading sell-side, buy-side and market centers as well as low-latency service providers.
Correlix is headquartered in New York with offices in London and Israel. Correlix is backed by prominent venture capital groups Sequoia Capital, Genesis Partners, Blumberg Capital, Vernon & Park Capital, L.P. and Xenia Ventures.
For more information, please visit www.correlix.com.
About NASDAQ OMX
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with approximately 3,700 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit www.nasdaqomx.com.
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Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about NASDAQ OMX's products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements. There can be no assurance that the FSA will give the NASDAQ OMX applicant the authorization and permissions which it seeks.
CONTACT: The NASDAQ OMX Group, Inc. Bethany Sherman +1 212 401-8714 Bethany.email@example.com
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