Modulus, A Provider Of High-Performance Trading Tech, Takes On Digital Assets
Benzinga is highlighting nominees for the fifth annual Benzinga Global Fintech Awards ahead of the event Nov. 19 in New York City.
One nominee is Modulus, a fintech servicing traders, brokerages, and educational institutions.
Processing In 40 Billionths Of A Second
Launched in 1997, the Arizona-based fintech aims to bring financial apps and exchanges to market at less cost and higher speed.
Modulus’ custom and off-the-shelf products reduce development challenges, providing a framework for the building of trading platforms, risk management, algorithms, scanning, testing and other solutions for clients such as TD Ameritrade Holding Corp. (NASDAQ: AMTD), E*TRADE Financial Corp (NASDAQ: ETFC), Bank of America Corp (NYSE: BAC), JPMorgan Chase & Co (NYSE: JPM) and Barclays PLC (NYSE: BCS).
The U.S.-based developer of high-performance trading technologies recently announced the launch of a high-frequency exchange solution that allows exchanges to scale more than 10 million transactions per second with less than 40-nanosecond latency.
“Accomplishing this was not easy. This required two decades of trial and error, but I believe we have finally set a new world record for exchange matching performance — not only for cryptocurrency exchanges, but also for equities, derivatives and other exchanges as well,” Modulus Global CEO Richard Gardner said in a statement.
The solution features machine learning trade surveillance that leverage trade data in monitoring and preventing illegalities within the market.
“What we’ve created is actually rather incredible because it allows exchanges using our solution to process transactions with less than 40-nanosecond latency. That’s 40 billionths of a second — and 100 times faster than NASDAQ’s 40-microsecond latency,” Gartner said.
A Progressive Approach To Crypto
As the markets evolve, Modulus is aiming to leverage next-generation programming tools to address new approaches such as social media trading.
“Most people know Modulus for our industry-leading exchange technologies which are utilized by some of the most notable names in finance. But this past year, we've really been focused on a project in which I'm personally quite invested,” Gardner told Benzinga.
“We've built upon our library of technologies to enhance the security behind exchanges, pioneering a patented anti-market manipulation and anti-money laundering solution which would protect traders, especially in volatile cryptocurrency markets.”
Modulus is approaching digital assets from a progressive point of view, offering solutions that global exchange commissions can leverage to maintain a securely functioning market, Gardner said.
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