Gissing Software announces successful uptake and roll-out of Gissing ConteX 4, next-generation multi-vendor contribution software
Benchmark tests show that Gissing ConteX 4 can handle over seven times the data throughput of ConteX 3
London and New York, 9 June 2008 –
Gissing Software, solution specialists in the routing and
transformation of real-time market and trade data, today announced the successful uptake of Gissing
ConteX 4, with roll-out to six customer sites already confirmed. Gissing ConteX 4 is a complete redesign
of the existing Gissing ConteX product. A completely new architecture has resulted in huge performance,
efficiency and manageability gains, with major new features also added. Gissing ConteX 4 is now
generally available following the successful completion of an extensive beta testing programme earlier this
year. One of the customers to confirm it has signed up to use the new system is Mitsubishi UFJ Securities
International (MUSI).
Greg Bufton, Director, Co-Head of Quantitative Desk, Rates Trading Group, MUSI said: “Following
rigorous testing we have been very impressed with the stability and highly increased market data
throughput of Gissing ConteX 4. As the volumes of price quotes we need to publish to our sales people
and traders increase, and as our trading strategies become more complex, we need an even more robust
architecture to securely handle, throttle and publish updates on our rates trading desks. Gissing ConteX 4,
with its new derived fields and data validation features, offers MUSI a way to do this reliably and in the
most efficient way as we look to further expand our business.”
Gissing ConteX is the world’s most widely-used real-time multi-vendor contribution system and is in use at
over 60 customer sites worldwide. It allows customers to contribute price data to multiple data venues with
minimum latency and maximum reliability and manageability. First unveiled at the SIFMA Technology and
Management Conference last year, Gissing ConteX 4 offers customers massive improvements in
performance, as well as extensive new functionality, dynamic system configuration and better operational
monitoring and reporting capabilities.
In extensive benchmarking tests Gissing ConteX 4 has demonstrated:
- Extremely low latency – the software offers the ability to process data updates end-to-end in just
0.1 milliseconds. While competitive edge depends on delivering data rapidly and accurately to
market data vendors, the speed of the vendor systems themselves will vary. Gissing ConteX 4
guarantees the lowest delay in contributing the data to those vendors.
- High throughput – using modest, low specification Wintel server hardware Gissing ConteX 4
processed in excess of 6.2 billion updates per day. This represents a massive, seven-fold
increase in data handling efficiency compared to ConteX 3 – and is considered crucial as
automated pricing, algorithmic trading systems, and the growth in derivative instruments continue
to generate ever more data.
- Conflation efficiency – the software actively manages conflation and allows data to be throttled
for prioritisation, with tests showing it can conflate data 10 times more efficiently than ConteX 3.
With the ability to contribute prices often limited by capacity throttles applied by the vendors,
conflation is essential in making sure that customer data is kept up to date internally and the latest
prices are published whenever vendor capacity is available. Gissing ConteX 4 actively manages
this process using one tenth of the CPU processing power that was required by ConteX 3.
Mike Vieyra, CEO, Gissing Software, stated: “All customers that have reviewed and tested ConteX 4 have
been extremely impressed by the massive improvements it offers in terms of reduced latency, increased
throughput and processing efficiency – key factors in helping them get their prices to market faster and
compete more effectively. The move to our next-generation ConteX 4 solution represents much more than
a simple upgrade – and the impressive uptake from our customer base to date shows how well it has
been received.”
- Ends -
About Gissing Software
Gissing Software, a ThomsonReuters company (www.gissing.com), specialises in solutions for the routing
and transformation of real-time market and trade data. It was founded in 1991 and counts some of the
world's biggest financial institutions among its clients. Almost all of Gissing’s clients are tier one banks and
brokers. With over 60 installations globally, Gissing’s products are renowned in the industry for
performance and reliability. The company has its head offices in London and an office in New York.
Product focus:
- Multi contribution systems for management and distribution of market data to financial data
vendors and other destinations
- Real-time solutions for Excel used by financial professionals in analytics, trading, pricing, data
contribution and administration
- Trade capture platform for Fixed Income, FX and other asset classes
- Data feed handlers
- Market Data System for Hedge Funds
Microsoft and Excel are registered trademarks of Microsoft Corporation.
Bloomberg is a trademark of Bloomberg Finance L.P., a Delaware limited partnership, or its
subsidiaries. All rights reserved.
For more information on Gissing Software products please visit: www.gissing.com
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