UBS is now offering its latency-sensitive customers a faster way to access the public markets.
For customers of the big broker’s Quant HQ service-a partnership between the big broker’s equity trading and prime brokerage departments-UBS is making available risk management technology from a start-up called Hyannis Port Research.
The vendor’s Riskbot technology permits high-speed traders to run their orders through various risk checks and access the markets in nanoseconds. UBS claims it is the fastest direct-access gateway on the market, where speed is still measured in microseconds.
Matt Senecal, UBS’s head of business development for electronic trading, explains that the technology gives the broker controls over its customers’ orders, but not to the extent it slows down the trader. “It allows us to feel comfortable about the risk we are taking on, but without providing a latency interruption,” he said.
Riskbot is the fastest of three risk management gateways UBS offers its direct-access customers. It is compliant with the Securities and Exchange Commission’s market access Rule 15c3-5 and is based on Field-Programmable Gate Array and supercomputer technology.
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