30 August 2011
MICEX releases new low latency Market Data feed service developed by EPAM’s Capital Markets Competency Center
Newtown, PA - August 30, 2011 -
Systems' Capital Markets Competency Center - a leading provider
of high efficiency FIX connectivity solutions, together with the
Moscow Interbank Currency Exchange (MICEX) Group, the largest
exchange in Russia, the CIS, Central and Eastern Europe, have
announced the release of a new low latency market data feed service
- MFIX Market Data Multicast.
The new service will enable MICEX clients to
obtain real time trading data - including exchange indices, the 10
best bids/offers, as well as market statistics - as a multicast
stream of UDP-based FIX/FAST 5.0 SP2 encoded messages. This new
implementation replaces the currently employed MFIX Market Data, developed by
B2BITS in 2009, which uses separate TCP connections for each
client. Though it also provided full market data services, the
number of concurrent users streaming data was limited by its older
architecture. The new MFIX service is designed to address this
limitation, while providing greater overall efficiency.
By eliminating data redundancy through
multicasting, a much lower publishing latency has been achieved,
while still requiring moderate network throughput. MICEX clients
with the appropriate leased line connections will be able to
receive market data within single digit milliseconds of a
transaction. Market data is published to a client immediately after
an order/event with an average delay of less than 1
"The FIX-based trading software developed by
EPAM's B2BITS has proven to be a highly reliable, quality solution.
The majority of our clients - large market data providers - have
adapted their systems to the FIX protocol format. The brand new
MFIX Market Data Multicast service works as a real time trading
data publisher. With significantly decreased market data feed
delays, it provides the high performance, low latency
infrastructure critical to stock exchange participants. I am
confident this service will exceed our clients' expectations in
processing the rapidly increasing volume of market data traffic
while reducing its publishing time," noted Alexandre Shlyappo, Vice
"We are proud to be a vendor and a partner in the
development of FIX/FAST based technologies for MICEX. MFIX is
designed to address the most demanding requirements of the global
electronic trading community. Use of the FIX protocol will ease the
integration of MICEX with trading platforms that implement complex
arbitrage strategies. We are looking forward to providing
onboarding services to MICEX's clients," said Mark Bisker, SVP and
Head of EPAM Capital Market Competency Center.
MFIX is planned to go live in September, 2011. The
data will be disseminated over the leased lines. Co-location
clients will also be able to receive the data feeds. Three types of
service are currently planned:
- A standard Level 2 feed with 2 Mbit network traffic for all
three MICEX markets: Equities, Futures and Options, as well as the
Currency market. This feed is expected to maintain data delivery
latency below 10 milliseconds even through transient market
- A low latency Level 2 feed with 10 Mbit network traffic. This
feed should not cause any additional publishing delays due to
- An active order list feed with 6 Mbit network traffic.
The network data throughput requirements above are
provided for information purposes only to help with the system
We invite all development teams who are interested
in this opportunity to start building feed handlers using the
web-based connection to the MICEX test environment. The test
environment is available 24/7, and the developer's manual can be
To request participation and receive connectivity
details, please send your request to firstname.lastname@example.org
with "MFIX Market Data Multicast" in the subject line.
The MICEX Group is an integrated exchange
providing services connected with electronic trading, clearing and
settlements as well as depository and information services. The
Group is comprised of the MICEX, the MICEX Stock Exchange, the
National Mercantile Exchange, the MICEX Settlement House, the
National Depository Center, the National Clearing Center, regional
exchanges and regional settlement centers and some other
organizations. The Group serves over 1700 participants in the
on-exchange market - leading Russian banks and broker companies
from Moscow and other large financial and industrial centres of
Russia. Today, the MICEX Group is the largest exchange in Russia,
the CIS, Central and Eastern Europe. The MICEX has one of the most
advanced electronic trading and depository systems in the world.
Through global networks of data transfer the MICEX IT complex is
connected with more than 1700 remote terminals of participants in
trading in 100 cities in Russia and abroad. Over 300 brokerage
firms are connected to the MICEX trading complex via the Internet
gateway which enables to serve investors through remote terminals
by using Internet technologies.
About EPAM Systems
B2BITS®, EPAM Systems Capital Markets Competency
Center, delivers solutions that cover trading and operations in all
asset classes including Equities, FX, Options, and Fixed Income.
The Center's reusable frameworks and components include OMS,
matching engines, market data feeds adapters, exchange gateways,
and electronic payment services utilized in many trading firms,
banks, brokerage and clearing houses, as well as exchanges. B2BITS®
is a registered trademark of EPAM Systems.
Established in 1993, EPAM Systems, Inc. is a
leading global software engineering and IT consulting provider with
delivery centers throughout Central and Eastern Europe.
Headquartered in the United States, EPAM provides services to the
clients worldwide utilizing global delivery model through its
client facing operations in North America, UK, Germany,
Switzerland, and Sweden, together with over 6,000 professionals
deployed across delivery centers in Russia, Belarus, Hungary,
Kazakhstan, and Ukraine.
EPAM's core competencies include complex software
product engineering for leading global software and technology
vendors, as well as development, testing, maintenance, and support
of mission critical business applications and vertically oriented
IT consulting services for global Fortune 2000 corporations.
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