In a move likely to be replicated by most exchanges, the Nasdaq OMX Group Inc. announced this week that it will begin providing real-time latency measurement to its customers.
Even microseconds of latency — time delay between a trade order being made and its execution — can add up to millions of dollars lost during the electronic trading process. Not surprisingly, more customers are seeking data on latency to identify bottlenecks.
Nasdaq OMX has selected Correlix Inc. and its RaceTeam technology offering to provide the independent real-time latency measurement information for intraday and post-day analytics. Initially, the service will be offered to Nasdaq Stock Market trading customers who will be able to monitor and analyze real-time latency information associated with their orders, executions and market data through a subscription to the Correlix technology.
Trials of the service for Nasdaq stock market members will begin in the first quarter of 2010.
For more information visit
Correlix online.
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PerTrac Portfolio Manager upgrade available
PerTrac Financial Solutions of New York has upgraded its Portfolio Manager product to version 1.4. The software, first introduced last year, is designed to help investment advisers and funds create, monitor and manage multi-manager portfolios of alternative investments.
One of the most important new features in the updated program is the integration of the PerTrac P-Card system, which allows investment managers to send secure e-mail attachments containing updated returns, exposure data, and other fund information directly to investors and prospects. That data can then be uploaded directly into the appropriate fund record in the recipient's PerTrac database without re-formatting or manual entry.
An additional method of calculating portfolio valuation, called Total Net Asset Valuation, has been included in the software as well. This feature takes into account a user's individual investment holdings (as reported by administrators or general ledger systems) and then allows PerTrac Portfolio Manager to calculate and post the corresponding percent return.
Security capabilities have been further enhanced as well. With version 1.4, system administrators have more granular control in assigning access. IT managers, for example, can assign responsibility and set permission and access rights for different elements of Portfolio Manager to different operational groups at a firm.
This latest version supports Microsoft SQL Server 2008, Microsoft Windows Server 2008 and the integrated mode of Microsoft SharePoint.
List price for Portfolio Manager is $20,000 for the first user and $5,000 for each additional user.
For more information visit
PerTrac online.
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