nxFeed
FPGA-based Market Data Processing
nxFeed is a feed handler which streamlines market data application development by processing data feeds on FPGA and making them available to applications via a simple, normalized API.
Download BrochureWhat is nxFeed ?
nxFeed is a feed handler which streamlines market data application development by processing data feeds on FPGA and making them available to applications via a simple, normalized API.
Designed to complement trading applications or in-house ticker plant development, nxFeed will arbitrate, decode, normalize and build order books on a plug-n-play, FPGA-based NIC — significantly reducing application processing resources and overall latency. This allows developers to focus on what they do best – build core business logic.
nxFeed reduces market data processing latency and server footprint compared to software-based solutions while also providing the flexibility for deployment as an in-application architecture using PCIe or distributed via UDP multicast over Ethernet.
Who should use nxFeed?
Frequently used by electronic trading applications or normalized data processing systems — nxFeed has the flexibility and power to process raw market data from even the most volatile exchange feeds.
Designed to be a tool in any market data developers toolbox nxFeed is easy to integrate with new or existing applications. nxFeed provides data processing with plug-and-play, FPGA-enabled market data handling and a simple C++ API.
When used for algorithmic trading, integrating nxFeed is often a first step towards end-to-end FPGA-based trading strategies using nxAccess, the Enyx execution engine with an embedded FPGA algorithm sandbox and accelerated execution capabilities.
How is nxFeed unique?
With constant, deterministic, and jitter-free performance, nxFeed filters unnecessary data and increases overall performance by reducing the network and server load. Whether publishing updates to a local application via PCIe or over the network to remote applications — nxFeed guarantees consistent and transparent performance.
With software simulators available to aid the development cycle — the path to integrating with the nxFeed API is simple and can be achieved in as little as a week. There is no requirement to install dedicated FPGA hardware, allowing firms to maximize time-to-production for their applications.
With an easy-to-use API, nxFeed offers features that were typically reserved only for software solutions:
- TCP-based remote application resynchronization
- Centralized dictionary management
- Centralized application administration & management
- Live monitoring counter & latency statistics
By taking advantage of the portability of FPGA-based NIC, nxFeed can be deployed alongside your application on the same server, or as a feed handler serving data to many remote applications.
nxFeed is designed to easily scale from single server to multi-site trading infrastructures by including two types of access via a single API:
- PCIe local delivery for an application running on the host server
- UDP Multicast over Ethernet distribution for up to 8 different normalized feeds
Performance Reports
Average
<1.2 µs*
Maximum
<8 µs*
*SOP-to-SOP latency measured on the switch
Supported Markets
nxFeed: Use cases
- Internal data distribution without having to normalize and build books for each exchange format
- Single, simple, normalized API delivered to existing software application stacks
- Delivery of market data updates over PCIe to application via C++ API
- Lowest latency configuration
- Initial step towards nxAccess — an FPGA-based trading engine
- Leverage nxFeed to normalize data and distribute only what is required over network locations
- Simple, consistent client API for receipt of data
Specifications
- Average Latency < 1.2 μs
- Maximum Latency < 8 μs
- Between 16-250k symbols per card (See: Global Market Coverage)
- By-Message A/B feed arbitration
- Book-based & order-based normalized market data
- Symbols / message type / book depth filtering
- Exchange resynchronization
- Normalized protocol across venues
- Comprehensive APIs for configuration & symbology management
- Up to 8 UDP multi-cast outputs with different publication configurations
- TCP-based consumer resynchronization
- Live monitoring counter & latency statistics
Related Resources
What Are Frontier Markets?
Definition, Risks, Opportunities, and Infrastructure Challenges As global markets become increasingly interconnected and accessible around the clock, firms are looking beyond traditional exchanges in search of new liquidity and untapped…
Axiom for 24/5 Trading
The Institutional Guide to 24/5 Equities: Solving the Overnight Transparency Gap The shift toward a 23-hour U.S. equities cycle has transformed the overnight session from a low-volume niche into a…
Accelerate Canadian Market Entry: Institutional-Grade Equities Data via NY4
Expand to Canada in Days, Not Months Expanding into Canadian equities traditionally imposes a high-friction “complexity tax” on U.S. firms. Coordinating multiple exchange connectivity points and managing the infrastructure surge…