Options, the leading provider of cloud-enabled managed services to the global capital markets, announced an agreement to provide the Members Exchange (MEMX) with production and disaster recovery market data services across their New York and Chicago sites.
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MEMX, one of the largest North American Equities exchange operators, has entered into an agreement with Options to avail their ultra-low latency market data and order routing services for production and disaster recovery use. The agreement includes multicast and unicast delivery, and follows Options’ 2020 announcement of day one access into MEMX. The cost-effective solution delivers best in class performance, utilising Options’ decades of industry knowledge.
Options SVP, Product Development, Micah Kroeze, said, “We are excited to grow our partnership with the Members Exchange (MEMX) and to provide their critical market data and connectivity. MEMX has enjoyed a highly successful first year in trading. These additional services will provide both MEMX and their stakeholders with the industry’s best real-time data delivered over the Options’ purpose-built low latency network. The solution provides unprecedented cost-saving alongside best-in-class network management, configuration and monitoring.”
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Dominick Paniscotti, Chief Technology Officer at MEMX, added, “The Options team have been on the journey with MEMX since the beginning, providing day-one access to the exchange. Options’ world-class network provides us the ability to handle our ever-increasing data rates, including microbursts, for all our market data and routing destinations. Our rapid growth has been effectively supported by the Options team and their technology, and we are looking forward to their next-generation network technology coming online.
Today’s news comes as the latest in a series of strategic developments for Options, including the acquisition of Fixnetix and ACTIV Financial alongside its recent partnership with Code Willing.
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