Correlix Latency Intelligence Solution Leverages Endace Technology To Pinpoint Sources Of Delay In Trade Data

Companies partner to measure and minimise latency in market data and trade execution

Auckland, New Zealand and New York, NY – July 21, 2008 – Endace Limited (LSE/AIM: EDA), a world leader in network monitoring solutions, today announced that Correlix, a venture-funded Wall Street startup, has selected Endace NinjaBox® appliances and Endace Data Acquisition and Generation (DAG®) interface cards as the foundation technology for its Latency Intelligence(tm) solution. The Correlix software pinpoints and quantifies sources of latency which enable customers to reduce milliseconds of delay in obtaining and acting on market data.

“Whether you are on the buy-side, sell-side or an exchange firm, effectively managing a one millisecond delay can have huge impact on your profit and loss,” said Shawn Melamed, Founder and CEO of Correlix. “In today’s fast-paced trading environment, reducing trading latency is critical to seize available market opportunities, increase revenues, retain customers, and gain competitive advantage. The robust network capturing hardware from Endace coupled with our advanced latency analytics software enables us to create a truly complete latency picture of trade execution and market data flows with microsecond accuracy in real time – without introducing additional delays which make other latency measurement techniques counterproductive.”

Melamed credits the combination of entirely passive Endace monitoring hardware and the company’s proven high-throughput capabilities as key to the success of Correlix algorithms to detect and quantify sources of latency in high-volume trading environments. “The NinjaBox DAG cards timestamp every packet of market and trade execution data which our software correlates with timestamps that we insert at various observation points throughout the trading cycle. By tracking the time consumed during each step, we give customers a complete latency map which reveals opportunities for them to optimise their internal applications, get physically and logically closer to their sources of market data and trading systems, and tune their trading algorithms to act more quickly.”

“The Correlix Latency Intelligence solution is a comprehensive latency monitoring and management system that takes advantage of Endace’s precise timekeeping capabilities,” said Stephen Gleave, VP of Marketing at Endace. “Our ability to supply granular message timestamps to partner applications is not only changing the landscape of measurement solutions for financial trading systems, but also cementing our position as a key monitoring component in high-performance computing clusters. Wherever there is a need to accurately measure elapsed time in data networks, Endace is increasingly featured as the Official Timekeeper of this low latency race.”

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CONTACTS:

Endace Limited
Joni Moore, PR Counsel (US) +1 508 308 7900
David Evans, PR Counsel (Europe) +44 (0)1291 626200
Steve Gleave, VP Marketing +1 408 556 9922

Bankside
Steve Liebmann or Simon Bloomfield (UK) +44 (0)20-7367-8888 / +44 (0)7802-888159

About Endace

For organisations that rely on their IP networks to do business, Endace provides traffic monitoring, latency measurement, network security and application acceleration solutions that capture, inspect and report on every single data packet. We enable our customers to be confident in their service performance, information security, and regulatory compliance. Based in Auckland, New Zealand, Endace also has offices in the UK, USA and Singapore. Quoted on AIM, the stock code is LSE: EDA. For further information: http://www.endace.com

Endace, the Endace logo, DAG and NinjaProbe are trademarks or registered trademarks in New Zealand or other countries of Endace Technology Limited. All other trademarks may be the property of their respective holders.

About Correlix

Correlix developed an innovative Latency Intelligence(tm) solution specifically designed for Buy-side, Sell-side and exchange environments, that traces in real time trade execution and market data flows. Correlix enables trading technology groups to pinpoint latency optimization points and reduce trade execution and market data latency, saving precious milliseconds. Correlix customer base is comprised from leading Capital Market firms which are monitoring and managing trading latency daily. Based in Wall St, New York, Correlix has offices also in Israel.

For further information: www.correlix.com