Common Customer Gateway Product Sheet
2
PRODUCT DESCRIPTION Common Customer Gateway (CCG) www.nyx.com ©2009 NYSE Euronext All Rights Reserved Universal Gateway to Execution Venues Worldwide FAST FACTS What is it? NYSE Technologies’ Common Customer Gateway (CCG) connects exchange participants to the core matching engine, and routes outbound orders to NYSE Euronext markets and other venues and alternative trading systems worldwide. Who is it for? Exchanges that want to offer their market participants the ability to connect to their matching systems, as well as value-added functions like outbound routing and risk management. What does it provide? CCG provides a single point of access for brokers and their clients, with proven FIX and binary messaging, a range of standard risk controls and proven reliability. The Common Customer Gateway (CCG) is an industry standard messaging interface for global exchanges and execution venues, including the NYSE Euronext markets, offering the ability to manage, monitor and analyze trading activity. Through our robust technology, our exchange customers and partners are empowered to continue to grow and innovate in their markets. Access to additional exchanges through CCG is ongoing as part of NYSE Technologies’ strategy to connect the world’s execution venues. Customer Challenges As new execution venues emerge, competition is becoming fierce as exchange venues seek to provide the fastest access to their markets. Speed Exchanges need to provide market participants with fast, electronic access to their matching engines. Performance High-performance connectivity solutions involve a significant investment in terms of expertise and cost, as requirements expand to include order-routing to other liquidity sources and alternative trading systems, and links to risk management platforms. Deployment Clients increasingly require fast deployment as they seek to take advantage of newly identified market opportunities. Monitoring Exchanges need to be able to monitor the state of the system from client connectivity to system health. Years of experience are used to create a solution that is manageable. Feature Addition The core code implements a system of frameworks that enables the creation of new protocols and features without compromising existing functionality. Solution Benefits CCG draws upon NYSE Technologies’ unrivalled experience in developing FIX and binary connectivity solutions. Clients benefit from NYSE Technologies’ expertise in protocol translation, its world-class quality assurance processes and its technology roadmap for upgrading and enhancing its GUIs and APIs. Reliability To ensure reliability, CCG persists messages at different points of their transit to the file system, making sure that messages are automatically restored if a connection fails. The persist files can also be used in failover scenarios. CCG also includes message validation, which checks incoming messages for correct formatting and whether the message meets the required information. Exception handling can be based either on the protocol conventions or on custom rules. Single Point of Entry CCG handles both inbound and outbound routing, ensuring orders are routed to the correct trading engine, whatever the trading platform. A Consolidated Configuration and Monitoring function allows single access to configure multiple gateways. Risk Management CCG provides extensive in-line risk checks and complex aggregation of risk state. It also can ‘Drop Copy’ duplicate exchange executions to support risk management functions, and allows risk managers to monitor risk filters via a risk managers’ API.
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Transcript of Common Customer Gateway Product Sheet
PRODUCT DESCRIPTION
Common Customer Gateway (CCG)
www.nyx.com©2009 NYSE Euronext
All Rights Reserved
Universal Gateway to Execution Venues Worldwide
FAST FACTSWhat is it?
NYSE Technologies’ Common Customer Gateway (CCG) connects exchange participants to the core matching engine, and routes outbound orders to NYSE Euronext markets and other venues and alternative trading systems worldwide.
Who is it for?
Exchanges that want to offer their market participants the ability to connect to their matching systems, as well as value-added functions like outbound routing and risk management.
What does it provide?
CCG provides a single point of access for brokers and their clients, with proven FIX and binary messaging, a range of standard risk controls and proven reliability.
The Common Customer Gateway (CCG) is an industry standard messaging interface for global exchanges and execution venues, including the NYSE Euronext markets, offering the ability to manage, monitor and analyze trading activity.
Through our robust technology, our exchange customers and partners are empowered to continue to grow and innovate in their markets. Access to additional exchanges through CCG is ongoing as part of NYSE Technologies’ strategy to connect the world’s execution venues.
Customer ChallengesAs new execution venues emerge, competition is becoming fierce as exchange venues seek to provide the fastest access to their markets.
Speed
Exchanges need to provide market participants with fast, electronic access to their matching engines.
Performance
High-performance connectivity solutions involve a significant investment in terms of expertise and cost, as requirements expand to include order-routing to other liquidity sources and alternative trading systems, and links to risk management platforms.
Deployment
Clients increasingly require fast deployment as they seek to take advantage of newly identified market opportunities.
Monitoring
Exchanges need to be able to monitor the state of the system from client connectivity to system health. Years of experience are used to create a solution that is manageable.
Feature Addition
The core code implements a system of frameworks that enables the creation of new protocols and features without compromising existing functionality.
Solution BenefitsCCG draws upon NYSE Technologies’ unrivalled experience in developing FIX and binary connectivity solutions. Clients benefit from NYSE Technologies’ expertise in protocol translation, its world-class quality assurance processes and its technology roadmap for upgrading and enhancing its GUIs and APIs.
Reliability
To ensure reliability, CCG persists messages at different points of their transit to the file system, making sure that messages are automatically restored if a connection fails. The persist files can also be used in failover scenarios. CCG also includes message validation, which checks incoming messages for correct formatting and whether the message meets the required information. Exception handling can be based either on the protocol conventions or on custom rules.
Single Point of Entry
CCG handles both inbound and outbound routing, ensuring orders are routed to the correct trading engine, whatever the trading platform. A Consolidated Configuration and Monitoring function allows single access to configure multiple gateways.
Risk Management
CCG provides extensive in-line risk checks and complex aggregation of risk state. It also can ‘Drop Copy’ duplicate exchange executions to support risk management functions, and allows risk managers to monitor risk filters via a risk managers’ API.
PRODUCT DESCRIPTION
Common Customer Gateway (CCG)
Copyright 2009 NYSE Technologies Inc. All rights reserved. All third party trademarks are owned by their respective owners and are used with permission. This announcement may contain forward-looking statements regarding NYSE Euronext and its affiliates. Such statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements
Integration with Other NYSE Technologies GatewaysCCG can be integrated with a range of gateway products from NYSE Technologies:
• MarketAccessGateway:TheclientcommunicateswiththeMarketAccessGatewayusing a common specification and the gateway connects to the destination venue using the market’s own protocol.
• RiskManagementGateway:Allowsmarketmemberstoofferriskmanagement for Direct Market Access (DMA) clients as a facility of the exchange, and enables risk managers to monitor and control risk filters, while supporting order routing to different markets.
CCG Solution Features• NewUniversalTradingPlatformfunctionality,includingmonitoring,loggingand
Master Daemon support
• Protocoltranslation–CCGallowsprotocolnormalization,enablingmultipleprotocoltranslation to facilitate many to many protocol translations
• SupportforFIX v4.2, FIX v5.0
• SupportforbinaryAPIprotocolswithmessageversioningtosimplifyreleasingnewfunctionality reducing customer interruption
• Highthroughputdatabaseenablesreducedmessagecontentiontoincreasethroughput
• FastclientorderIDvalidationwithreducedmemoryusage
• Timestampcollectionandmonitoringenablingreal-timechecksforspeedandalerting
• Internalmessagedatabaseviewerenablingmoresearchcriteriaformessageretrieval.
• Flexiblemessagetranslationframeworkprovidingaccesstoexistingtranslationsorplugging in new rules
• Riskmanagementframeworkprovidingmanyexistingchecksorcreatingnewfeatures
• Routingframeworkallowsdifferentroutingfeaturesorcreatingnewroutingstrategies
TR/L5729/091215/300
Figure 1
Drop Copy
CCGClients
Markets
SFTINetwork
MarketAccess
Gateway
Derivatives
Equities
Bonds
About NYSE Technologies
NYSE Technologies provides comprehensive transaction, data and infrastructure services and managed solutions for buy-side, sell-side and exchange communities that require next-generation performance and expertise for mission critical and value-added client services.
Find Out MoreEmail: [email protected] Visit www.nyse.com/technologies
