TXC Incubates Its First High Frequency Trading Team
High frequency trading is gaining popularity in the fund management world, and one Jersey City, New Jersey firm is aiming to help managers get into the game faster.
Trading Cross Connects US LLC (TXC), an incubator of high frequency trading teams, announced today that its first team—a London, England-based firm—has begun trading. The newly-created firm was founded by former high frequency proprietary traders who worked at a major European bank.
“The speed and efficiency involving the on-boarding of TXC’s first customer is a testament to the scalability of our technology infrastructure, broad connectivity offering and experienced professionals,” says Alan Schwarz, president and COO of TXC. “TXC helped establish the new high frequency firm and connected them with Bay Head’s pre-existing prime brokerage relationship, which contributed to the overall ease of starting the business. Individuals in the high frequency trading community looking to set up their own operation will find our turn-key solution extremely valuable – both on the infrastructure and capital side.”
TXC provides ultra low latency connectivity to all major exchanges/ECNs for FX, fixed income and U.S. futures.
“We have native connectivity to all major marketplaces and provide co-location to ensure minimal latency. Our asset agnostic software and optimized exchange adapters ensure that we can meet the demands of our clients,” says Gray Lorig, TXC’s chief information officer.
TXC plans to incubate five teams in 2010 and is in active discussions with several high frequency traders seeking to establish their own high frequency firm.