Pure Trading Girds for High-Frequency Trading

As part of the of the preparation, complex event processing (CEP) platform vendor Stream­Base Systems announced today, Nov. 9, that it has released a connection adapter for Pure Trading's market data distribution and order entry protocol Stamp, which the firm licenses from the Toronto Stock Exchange (TSX). The new adapter is pre-packed and "anyone looking to connect to the venue can use it," says Richard Tibbetts, CTO of StreamBase. The current release represents the third adapter the vendor has made for the Canadian equities market. Adapters for the TSX and Alpha ATS are already available. "Another should be available in the next few weeks," says Tibbetts. The adapters run on top of the StreamBase CEP platform, which can run in the Microsoft Windows, Linux or Solaris operating systems.

Tibbetts says that he sees firms adopting the StreamBase platform for applications requiring direct exchange market data feeds and execution capabilities, such as smart order routing (SOR) and market-making applications.

In the Canadian markets, Pure Trading officials expect to see adapter adoption by firms involved in cross-border arbitrage with price and foreign-exchange components. "These are areas where you have high-frequency data sources that need to be modeled and understood and trading decisions made based on what the data is saying at the time," says Carleton, declining to identify such firms.

At the beginning of the year, Pure Trading concluded a datacenter consolidation with its Toronto-based datacenter provider Q9 to expand client co-location space (DWT, Jan. 12).

Last month, StreamBase announced the release of eight order execution algorithms designed for the buy side, prop desks and broker-dealers. The vendor will supply integrated algorithms built into its framework for capital markets, allowing for rapid time to market and full customization of its high-speed platforms, according to officials (DWT, Oct. 12). Earlier this year, the capability to aggregate foreign exchange venues was added to version 6.3 of the platform (DWT, April 6).