What Is an ATS? Understanding Alternative Trading Systems
Equity trading no longer occurs in one place. While the traditional exchange-only centralized model is now a multi-venue marketplace, liquidity is dispersed across exchanges, dark pools, electronic communication networks (ECNs),…
What is 24X? Inside the Exchange Powering 23/5 Trading
What Is 24X? Inside the Exchange Powering 23/5 Trading The October 14th launch of 24X National Exchange marks a defining moment in the evolution to 23/5 trading. As the first…
The True Cost of Real-Time Market Data Infrastructure: Part II Summary
Field-programmable gate array (FPGA)-based market data processing delivers best-in-class performance for ultra-low latency trading environments. However, building and maintaining in-house FPGA feed handlers is unsustainable for many capital markets firms. …
Why 24/5 Trading Is Rising
Oracle’s overnight surge wasn’t just a win for shareholders — it was a preview of what’s to come for global markets. When news breaks after 4 p.m., trading no longer…
Rethinking Market Data: Highlights from Exegy’s 2025 Client Summit
On October 1, Exegy hosted its third annual Client Summit in New York. We want to thank everyone who joined us this year. The conversations, questions, and perspectives shared are…
The True Cost of Real-Time Market Data Infrastructure: Part I Summary
For capital markets firms, the decision to build or buy real-time market data infrastructure carries significant cost, time, and risk implications. To aid firms in visualizing the investment necessary to…
From Speed to Scale: Rethinking Ultra-Low Latency Trading Infrastructure
In today’s markets, edge erodes quickly. For market makers, arbitrage desks, and quantitative funds, alpha signals decay in microseconds, and even minor delays can result in skipped fills, stale quotes,…
How to Stop Alpha Decay with Infrastructure That Delivers Edge
Market makers and quant funds rely on their predictive edge, known as alpha, to make profitable trades. However, more than ever, alpha doesn’t last. Alpha decay, when that predictive power…
Break the Bottleneck: How FPGA Trading Can Enable Scalable Market Data Infrastructure
A Smarter Path for Brokers Facing Power, Space, and Performance Pressure Co-location space is limited. Power costs are climbing. Yet market data volumes show no signs of slowing. For many…
Hardware Acceleration in Trading: Solving the Finite Space Problem
Hardware acceleration in trading has become increasingly essential as firms confront a stark new reality: market data volumes are growing without limit, while prime co-location space and power are not.…