Press Releases

October 7, 2008

FOR IMMEDIATE RELEASE

 

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Tervela Announces Integrated Options Market Solution
to Address Volatile, High-Volume Trading Conditions

Tervela Message Network Combined with Professional Services
Enables Financial Firms to Exceed High-Performance Options Processing Requirements

NEW YORK, October 07, 2008 – Tervela, the leading provider of high-performance, low-latency messaging systems, today announced an integrated options market solution designed to exceed the unique and challenging demands of the options industry. The offering couples the Tervela Message Network™ with professional services and high-performance options processing capabilities to deliver the predictable low latency, ultra-high message throughput, resiliency and scale required in today’s volatile, high-volume trading marketplace.

“As firms pursue cross-asset strategies and add options processing to their trading environments, the demands that legacy financial messaging systems are required to handle increase,” said Kevin McPartland, senior analyst, TABB Group. “Market makers and other firms looking to leverage options must be able to seamlessly integrate messaging systems and critical applications like FIX engines, algorithms, market adapters and feed handlers to their current architectures to prevent against system failures or their competition will leap ahead of them – and stay there.”

Tervela’s options market solution is available as a five-phase program that seamlessly integrates with existing infrastructures to get firms up and running to reliably handle fluctuating market conditions. By integrating various components of the Tervela Message Network with Options Price Reporting Authority (OPRA) data, exchange feeds, last known value services, book services, FIX processing, archival and more, the program can be customized to meet immediate market data distribution, options market making, automated trading and co-location requirements while laying a scalable foundation for the future.

“In today’s volatile marketplace, no one understands what peak is anymore. You just can’t approach an options project with an equities mentality; it’s far more extreme,” said J. Barry Thompson, Co-Founder and CTO of Tervela. “Consider the Options Clearing Corporation who just last month set a new daily volume record of 26,647,538 contracts. Events like this further validate the need for a scalable messaging solution that can easily handle high-volume, latency-sensitive data distribution.”

About Tervela
Founded in 2004, Tervela delivers the next-generation communications infrastructure – the message network – designed and engineered to exceed the information dissemination and processing requirements of the world’s most demanding financial services institutions. Addressing the challenges of market volume, volatility and visibility, Tervela invented the message switch to enable investment banks, hedge funds, exchanges and other data-intensive organizations to deliver consistent, outstanding and predictable performance – even in the most demanding market conditions. The company is funded by Goldman Sachs, Sigma Partners, Acartha Group and North Hill Ventures. For more information, please visit www.tervela.com.