Endace Leverages Verizon Financial Network Technology

Thursday, 16 June 2011, 11:01 am
Press Release: Endace

Endace Leverages Verizon Financial Network Technology to Make Market Data Delivery More Reliable for Financial Trading Firms

New Gap Detection Software will Improve Integrity Monitoring of Market Data Feeds for Better Trading Performance

Auckland, New Zealand - June 16, 2011- Endace, world leaders in network monitoring and recording, today announced that it is teaming with Verizon to make financial market data feeds more reliable and predictable for financial firms.

Endace is employing proprietary Verizon gap detection technology in a new software application that provides end-to-end corporate network visibility for locating and resolving data gap issues that impact the integrity of received market information. As a result, trading specialists will be able to make more informed and timely decisions.

The new software, Endace Gap Detection, helps trading firms locate and resolve issues that slow and degrade market data so that valuable information isn't "lost in translation" from market center to trading terminal. The new gap detection solution provides detailed statistical information on the quality and integrity of every market data feed to users through a web-based graphical user interface. Verizon's gap detection technology previously had only been available to subscribers of the Verizon Financial Network. With this relationship, Endace has placed Verizon's gap detection algorithm into software which will be available on Endace's systems. Customers will now be able to perform gap detection on their own corporate networks. The gap detection solution will be marketed through Endace's network of resellers to the financial services community.

The Verizon Financial Network is a dedicated high-speed infrastructure platform and a portfolio of financial markets solutions designed to both deliver market data and execute trades in a scalable, secure, low-latency environment. Verizon's data gap detection technology is currently embedded in Endace's Systems, which Verizon exclusively uses to test and prove the integrity of market data feeds delivered through the Verizon Financial Network.

"Many of the world's largest financial services firms use the Verizon Financial Network for its differentiated and proprietary gap detection technology, which provides network visibility to quickly locate and resolve any data gaps," said Chandan Sharma, vice president of Verizon's Financial Services practice. "Our customers have requested that the same technology used within the Verizon Financial Network could be made available for them to use within their own corporate networks. And with this Endace relationship, enterprises will now be able to apply Verizon's proprietary gap detection to their own private networks for better trading results. Verizon also plans to deliver a fully managed gap detection solution 'as-a-service' in the near future consistent with its Everything-as-a-Service (EaaS) strategy."

"The ability to rapidly detect and resolve problems in market data feeds is crucial for all trading firms, particularly those involved in high-speed algorithmic trading," said Kevin Formby, vice president of business development at Endace. "This new application, based on Verizon's proven gap detection algorithm, will help to make Endace an even more valuable and important part of every trading firm's tool kit."

The application will be licensed separately from the Endace Application Suite, which includes high-performance packet capture and timestamping, data mining, analytics and latency monitoring capabilities. The Gap Detection application will analyze more than 50 different market data feed types from all of the major trading venues globally.

Endace will be demonstrating the power of Gap Detection at Endace's booth #1101 at the SIFMA Financial Services Technology Leaders Forum and Expo in New York, June 14-16, 2011.

Verizon Financial Services is a business solutions and technology advisory services practice within Verizon. This practice is focused on helping banking and financial institutions, insurance companies and the broader financial ecosystem improve business agility, increase business performance, manage risk, and drive innovation in an increasingly complex and fast-changing digital market place. Verizon's solutions framework for the financial services industry draws upon market-leading communications, IT, security, identity, mobility assets, consulting/professional services capabilities and strategic vendor relationships to provide integrated solutions in a number of flexible delivery models, including everything as a service (EaaS), premises-based or hybrid models. Find out more at www.verizonbusiness.com/solutions/finance.

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