FIX Protocol Application Performance Management with NetQoS Trade Monitor

Reduce Market Risk by Understanding Financial Information Exchange (FIX) Protocol Latency and Improving Trade Detail Visibility

Financial trading activity between exchanges, brokerage firms, hedge funds, and other financial services companies is a core component of the world economy.  With trillions of dollars traded annually on the NASDAQ alone, financial service entities are investing heavily in optimizing electronic trading and employing direct market access (DMA) to increase their speed to financial markets and reduce latency where possible.  Put simply, a one millisecond advantage can be worth millions.  In addition, regulatory initiatives like the Regulation National Market System (RegNMS) in the US and the UK’s Markets in Financial Instruments Direction (MiFID) are also forcing trading services to provide order execution and market data in a timely manner. 

For the trade desk, managing the delivery of trading applications and keeping latency low increasingly requires an understanding of the FIX protocol. However, many trade desks are not equipped with the right solutions to monitor and troubleshoot FIX applications.

NetQoS Trade Monitor is a response time monitoring product that captures and analyzes FIX protocol financial transactions to help trade desk personnel measure latency, speed troubleshooting, and reconstruct trade executions. Trade Monitor is a passive appliance designed to be secure and non-intrusive in your trading network environment.

Quickly understand latency and trade volume across all sessions.

Drill into specific sessions to see order latency over time.

How does NetQoS Trade Monitor Help You?

Reduce Exposure to Market Risk

• Real-time alerting of application and network incidents that affect individual transactions or the trading environment as a whole (such as an unacknowledged order)
• Latency data analytics to understand where performance problems exist for sessions, servers and firms
• Fast trade reconstruction to quickly ascertain the disposition of any trade

Understand Latency Outliers

• FIX response time latency metrics across multiple sessions to determine best/worst connections
• Latency reports with roles-based access that can be organized by FIX server, firm or session to provide the right information to the right person.

Resolve Trade Problems Quickly with Packet Capture and Retrospective Analysis

• Advanced search capabilities and real-time indexing allow multiple FIX sessions searches simultaneously using any FIX tag or tag value
• Granular visibility of transactions and order chain reconstruction
• Packet captures that can be exported and viewed in any packed decode application such as NetQoS Observer or WireShark

Manage FIX Protocol Applications in the Context of Overall Network Health

In addition to trade desk personnel, network and operations personnel can use Trade Monitor in conjunction with the other modules of the NetQoS Performance Center to ensure optimal application delivery and network performance. The combination yields specific capabilities such as:

• Real-time service level reports on trading performance
• SNMP alerts useful in the network operations center (NOC) for troubleshooting infrastructure issues
• Cisco IP SLA tests for hop-by-hop network analysis
• Cisco NetFlow data analysis and reports for visibility into trade message volume and traffic composition
• Response time analysis for TCP based, proprietary trading systems

Register for an evaluation of NetQoS Trade Monitor today.

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