NYFIX to Deploy Skyler C3TM Database in Push to Overcome Increasing Quote Traffic

December 18, 2006; 06:40 AM
Skyler Technology, Inc., an innovator in providing in-memory databases for real-time processing of market data for the financial services industry, announced today that NYFIX, Inc., a leading provider of execution, information and transaction services, has selected the Skyler C3 Database for its new order book server to keep pace with the increasing quote and order book data traffic.

“We believe the Skyler C3 Order Book gives us sufficient head room and flexibility to keep pace with the drastically increasing quote and order book data volumes. It also allows for easy adaptation to additional liquidity pools or changing regulatory requirements,” says Don Henderson, NYFIX Chief Technology Officer. He adds, “This new order book server based on the Skyler C3 Database is part of our strategic initiative to provide the best services around sourcing liquidity. We view the book server as giving us and our customers an important competitive edge in times when liquidity is one of the most valuable resources.”

With increasing quote volumes and throughput rates, the rise in liquidity pools that need to be managed and stringent requirements by Reg NMS necessitate companies like NYFIX to re-architect their order book management capabilities as part of their market data infrastructure. These trends create a demand for an order book solution that provides full insights into multiple liquidity pools in real time while keeping pace with the increasing data volumes. The Skyler C3 Database is optimized to address these needs with superior processing performance, specialized order book management capability, off-the-shelf adapters to real-time quote feeds, and high configurability and adaptability.

For NYFIX, the Skyler C3 Database distinguished itself with speed, a comprehensive features set, and ease of integration. “It was a logical choice when re-architecting our market data infrastructure," says Steve Schiff, NYFIX Chief Architect. He continues, “The Skyler C3 order book provides aggregation across multiple venues and maintains the full depth and breadth of the order book in real time. We have benchmarked the system and it has yielded impressively positive results. Plus, installation and setup were completed in less than an hour.”

Skyler’s COO and president, Michael Lenahan believes the Skyler C3 Order Book will prove increasingly useful in addressing changes in the market structure and the increasing demand for liquidity. “Providing real-time insights into liquidity has become increasingly challenging. The Skyler C3 Database meets this challenge in ways never before possible," notes Michael Lenahan. "We are thrilled that NYFIX has chosen Skyler to maintain their order book across multiple venues in real time.”

Skyler C3 Database is an in-memory database that combines a real-time cache, a stream processing engine, and a time series database in one fast, flexible, and easy-to-use product. The combination of these characteristics promises to change the way financial services firms respond to the increasing market data rates. The C3 Database is tailored toward managing the full depth and breadth of the order book in real time while providing aggregation across multiple liquidity pools and insights into individual orders. The C3 system can also be applied to power real-time applications including algorithmic trading engines, smart order routing applications, ticker plant systems, and many more.

Skyler Technology, Inc. is a privately held company located in Walnut Creek, California.

For more information, to arrange a greater in-depth look at our software, or to request a free trial version, please contact Michael Lenahan at (925) 952-4880 X105.