Tervela Recognized for Transforming Options Market Making Business
NEW YORK, June 23 /PRNewswire/ -- Tervela, the leading provider of
high-performance, low-latency messaging systems, today announced that The
Banker has awarded the company with an "Innovative Technology Project of
the Year" win in the category of wholesale and capital markets. The award
was presented at a gala event in London.
"The Banker Technology Awards, now in their sixth year, seek to
identify and celebrate excellence and innovation in all areas of banking
technology," said Brian Caplen, Editor at The Banker. "Tervela was selected
from over 300 entries worldwide for their innovation and ability to
transform the options market making business."
Recognizing technology excellence, The Banker awards highlight the
innovations and critical trends financial services firms need to stay ahead
in today's ever-demanding marketplace. These highly-respected industry
awards are judged by a panel of international financial services experts
including analysts, editors, end users and luminaries in the field.
"Being acknowledged by a publication in the prestigious Financial Times
family is a great honor," said Bob Cramer, CEO at Tervela. "We are proud to
be helping our customers gain a competitive edge by transforming the way
options market making is done. Improving the efficiencies in the trading
process requires a fundamental change in how inherent architectural
deficiencies of legacy messaging infrastructure are addressed. Tervela
accomplishes this through our next-generation message network platform."
Tervela received the innovation award for enabling a global investment
bank to seamlessly overcome the challenges of handling ever-increasing
amounts of time-sensitive market data and processing trades while
maintaining business continuity. The customer, one of the world's leading
options market makers, needed a fail-safe way to process high volumes of
options data and sustain continuous message processing during frequent
periods of volatility. With Tervela, they were able to stay ahead of the
market by accelerating transactions and eliminating critical data loss.
Tervela brought a new level of service and performance to the
customer's options market making business, allowing the investment bank to
sustain a competitive edge in the financial services marketplace. By using
a pair of fault-tolerant Tervela TMX Message Switches(TM) alongside a
Tervela TPM Provisioning & Management System(TM), the customer was able to
effortlessly handle increasing options data volumes with sub-100
microsecond latency.
Tervela recently announced version 3.0 of its messaging solution, which
introduced the Tervela Message Network(TM) platform. The platform includes
new product lines for high-performance messaging, persistence and common
extensible application services.
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
http://www.tervela.com.
Media Contacts:
Steph Johnson Kyle Peterson
Page One PR for Tervela Page One PR for Tervela
Tel: 1-212-410-2254 Tel: 1-415-321-2349
steph@pageonepr.com kyle@pageonepr.com
SOURCE Tervela
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Related links:
http://www.tervela.com
CONTACT:
Steph Johnson, +1-212-410-2254,
steph@pageonepr.com, or Kyle Peterson, +1-415-321-2349,
kyle@pageonepr.com, both of Page One PR, for Tervela
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