IRESS launches multi-market feed service

Financial trading technology company IRESS Market Technology (ASX:IRE) has launched a new multi-market feed service in preparation for the introduction of trading market competition.

IRESS Market Feed is a low-latency feed capable of providing either single or consolidated market data.

Using a point-to-point protocol built on top of TCP/IP sockets, the feed will be made available at co-location facilities or through IRESS' fibre network, ION.

The product will include feeds from most if not all public data sources that IRESS tracks.

IRESS said it had introduced Market Feed due to client demand, and as a response to the imminent arrival of competing trading markets such as Chi-X Australia.

ASIC this month published the timetable for the introduction of trade market competition.

“With the final market integrity rules for competition to be released in April... now is the perfect time for specialist equity market participants to assess their transition to a multi-market environment,” IRESS managing director Andrew Walsh said.

IRE shares fell 0.68 per cent during Wednesday's ASX trading to $8.780.

Copyright © 2011 IDG Communications, Inc.

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