Beeks Wins MEMX Contract Following Competitive Review

MEMX selected Beeks as their new partner for latency monitoring of their new exchange. Beeks Group have been selected for latency monitoring of the new Members Exchange (MEMX), the fastest growing U.S. equities exchange, following their review of packet capture, latency and analytics solutions for Capital Markets.

Glasgow, United Kingdom, June 30, 2021 --(PR.com)-- Beeks Group are pleased to announce they have been selected for latency monitoring of the new Members Exchange (MEMX), the fastest growing U.S. equities exchange, following their review of packet capture, latency and analytics solutions for Capital Markets.

"We’re delighted to have successfully implemented the Beeks Analytics solution as a core part of our performance analytics technology stack,” said Dominick Paniscotti, MEMX Chief Technology Officer. “Beeks’s flexible architecture and solution provided us the ability to handle our required data rates, including microbursts, with scale to support our growth projections. Additionally, the team provided us with the ability to capture the traffic on our systems with zero data loss, along with analysis tools that supported our core engineering effort to achieve a fast, deterministic and fair experience for our clients. Their unique approach offered us the ability to deploy on our own hardware, allowing full control managing the architecture and scaling the solution to meet our performance and capacity objectives. As a client-focused firm, MEMX prides itself in its ability to make new and improved technologies and features available quickly and reliably. The combination of Beeks’s automated market data detection and Advanced Configurable Decoder (ACD) technology helped MEMX rapidly deploy internal platform and protocol updates during the initial launch, as well as monitor and tune the performance of the ‘away-market’ feeds used in our pricing engine. ACD, which takes XML as an input, eliminates the need for a software development and release cycle resulting in shorter time to market.”

During the assessment and evaluation of available solutions for latency measurement and analysis, MEMX focused on two key areas; high fidelity data capture and the ability to provide insights regarding functions critical to the technology stack that are drivers of platform scale and needed to meet the current and future demands of the business. As a new technology-driven stock exchange, MEMX had no legacy systems to integrate and no pre-conceived bias towards any particular solution. This gave them the freedom to choose the latency monitoring provider that best matched their requirements.

“Having the ability to deliver, deploy, and centralise the analysis solution for both physical and cloud-based deployments,” explains Gordon MacArthur, CEO at Beeks Group, “is key to delivering a scalable and cost-effective offering. It allows for a solution where data can be captured at one, or more than one location, and be sent to a central location for comprehensive analysis thus future proofing the solution stack.”

“As an innovative technology company, MEMX takes the architecture and design of its systems very seriously and demands the same from its partners. Beeks can deliver a flexible architecture to MEMX because our solution de-couples software from any prescribed hardware, and separates the capture and analysis functions,” continued Gordon, “all without compromising any performance capabilities, thanks to our 100Gbp constant state capture with zero packet loss. We provide traditional application based solutions but at our core we believe our customers should be able to pursue a SaaS based approach, allowing them to either control their own hardware procurement and re-fresh cycles or let Beeks manage it for them.”

About Members Exchange
Founded in 2019 by diverse members of the global financial community, Members Exchange is an innovative, customer-centric market operator, focused on creating and promoting a fair, transparent, and efficient experience for all investors. MEMX offers a new option to investors, with a simpler platform and features to benefit both retail and institutional investors. For more information on MEMX, please visit www.memx.com and follow @memxtrading.

About Beeks:
Beeks is a leading managed cloud computing, connectivity and analytics provider for financial services. Our vision is simple: Build. Connect. Analyse. With an international network of eighteen data centres, Beeks provides end to end outsourcing of compute environments by delivering low-latency compute, connectivity and analytics, on-demand.

Our cloud-based Infrastructure-as-a-Service (IaaS) model allows financial organisations the flexibility and agility to deploy and connect to exchanges, trading venues and cloud service providers at a fraction of the cost of building their own networks and infrastructure. ISO 27001 certified, Beeks supports its global customers at scale exclusively within global capital markets and leading financial centres.

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