Nanexx Unveils Spinoff Data Tools

The NeXXCore Enterprise Solution, intended to distribute data to traders and applications in large institutional deployments, comprises the vendor's NxCore ticker plant software and NeXXCore Server Solutions, which sit on top of the ticker plant to filter data by specific requirements-for example to strip market depth out of a Level 2 feed for applications that do not need full depth, thereby reducing bandwidth consumption.

The vendor also provides a suite of NeXXCore Client APIs for receiving Nanexx's composite snapshot and streaming datafeeds via the Internet from its own ticker plant.

The company, which is in the final stages of formation, was created from data products used by Exx.com and NxCore, which was the development vehicle of Eric Scott Hunsader, combining the two names to create Nanexx.

Nanexx collects exchange feeds direct from Nasdaq, and from the New York Stock Exchange, the American Stock Exchange and the Options Price Reporting Authority via the Secure Financial Transaction Infrastructure, to its datacenters in Nutley, NJ and Jersey City. Doug Carter, chief technology officer at Nanexx, says the vendor is currently adding support for feeds from the Philadelphia Stock Exchange, Chicago Mercantile Exchange, Toronto Stock Exchange and NYSE Euronext's European markets, followed next quarter by commodities data from the CME and the New York Mercantile Exchange.

The vendor connects to the exchanges using BT's Radianz Ultra low-latency network to bring the data into its datacenters, from where it distributes data to clients over networks from BT and Cogent. Clients can either deploy the NxCore ticker plant onsite, or can receive streaming data from a ticker hosted by Nanexx to NeXXCore "slave" deployments at remote client offices, Carter says.

The software can support more than 900,000 messages per second, and utilizes a proprietary compression protocol to reduce bandwidth utilization by up to 95 percent.

"We are compressing data at practically zero latency by a ratio of between 15 and 25 to one, so it saves tremendously on bandwidth," says chief technology officer Douglas Carter. "We can send a whole day's worth of data from Opra, Amex, NYSE and Nasdaq over a 25-megabit line.... For one [potential] client in Finland, we are collecting data from New York, through Chicago, and sending it to Finland in just 114 milliseconds," he says. "From New Jersey, we will probably get even better latency."