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nxAccess Wins Award for Best Market Making Platform 

TradingTech Insight Awards USA honors FPGA-powered trading engine

New York, NY – June 12, 2023 – Exegy, the industry leader in providing a full range of trading solutions, is announcing today that its FPGA-based trading engine, nxAccess, has won Best Platform for Electronic Market Making at the Trading Tech Insight Awards USA 2023. Exegy’s nxAccess is an FPGA-based, tick-to-trade platform which enables clients to execute orders with the speed and performance of hardware, while providing the usability of software. 

An advisory board that included executives from Deutsche Bank, State Street and BMO Financial Group assisted A-Team Insight’s editors in choosing this year’s winners. The TradingTech Insight Awards USA recognize excellence in trading for capital markets, highlighting companies that offer innovative trading infrastructure, technology, and data solutions to the US trading industry. 

nxAccess leverages FPGA technology to fully process, filter, and normalize raw market data, in addition to providing an FPGA algorithm sandbox that allows developers to use software to pre-load, trigger, and update orders before sending to the trading venue. 

The solution gives users the unique ability to leverage hardware for latency-critical strategies while maintaining the usability and convenience of software – ensuring a smooth transition to FPGA technology with a faster time-to-market than building in-house. 

The tick-to-trade latency of nxAccess stands at 350 nanoseconds via the pattern matcher for raw market ingest and 650ns from a normalized book update, with further performance improvements to come later in the year. 

David Taylor, CEO of Exegy, said: “It is gratifying to have nxAccess recognized for the value it brings to the low-latency trading space. By side-stepping the time and investment usually required for FPGA-enabled performance, clients who are ready to make the move from software can achieve low latency – and maximize profits – more quickly. Everything we do is powered by that drive to offer competitive advantage within the markets.” 

Exegy provides trading technology infrastructure and market data to capital markets and is the trusted partner of Tier 1 banks, hedge funds, brokerages, and proprietary trading firms. With its full suite of solutions, from predictive signals to execution and risk management, the company is one of the top technology vendors offering trading intelligence.