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Chrono
is a high performane FIX
adapter for the Athens Stock Exchange (ASE). ASE is
a DMA-enabled market, and accepts electronic
transaction flow from its members, as long as it
is encoded in the local Order Data Link (ODL) protocol.
Chrono
provides the unique service of expanding the electronic transaction
opportunities for the ASE, implementing the application layer of the
FIX protocol. With Chrono,
any FIX encoded flow can
reach the ASE market in ultra-fast time.
Fixel's
proposition centers on quality and performance. The most important
aspect of our solution is its orthogonality and symmetry which allows
the systems of any broker to transact automatically with any other
broker or other buy-side institution over any IP network or other FIX
enabled order routing system, in a
measurable, high-speed manner.
Besides
the task of handling incoming
order flow from other brokers or other buy-side institutions, Chrono
can be used to implement
bi-directional application connectivity, for
example, with a retail/end-user Internet based order-capture
application as a buy-side aggregator connecting directly via Chrono
to the stock exchange. Another example would be a portfolio management
system that works with queues of orders for each client (or lump-sum)
as
it creates, re-balances
and re-arranges its porfolio composition. Both applications would
establish FIX
connections
through Chrono
for fast,
automated order execution and monitoring,
Because
of its mission critical nature, the Chrono
Direct Market Access (DMA)
solution has the following characteristics:
- Low-latency
round trip response (sub
100ms round trip)
- Reliability.
It has been in production
for 3 years, now in its 3rd release.
- Consistency. Chrono
utilizes fully the latest
graphical user interface in both its monitoring and its connection
components.
- Maintainability.
Because Chrono
uses state of the art
components, it is extremely easy to adapt and tailor to user needs.
- High-availability.
The Chrono
solution can utilize two (2)
systems with automatic (or user initiated) fail-over if something goes
wrong with one of the servers.
- Persistency.
Our primary concern is to
keep data safe and there are many safeguards in Chrono
that make sure nothing is
lost in case of system hardware and/or software failures.
- Resilience. Chrono
is industrial strength
software that has been tested under the most demanding loads and market
conditions..
Chrono’s
unique
implementation allows the achievement of high order throughputs in
stress conditions, while the system is unmatched in terms of
responsiveness and stability. However, Chrono
is much
more than a single adapter, coming with state-of-the-art tools and
functionality including:
- Custom
filters for the FIX incoming flow
- Compliance
rules to control the content
of the incoming messages
- Application
state and data persister
- FIX
and ODL connectivity control
- Simple
and safe failover functionality
- Friendly
administrative interface
- Minimal
maintenance requirements
- Built-in
scheduler for minimal
administrative efforts
 Read
the PDF
to
learn more.
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