Fixnetix Introduces iX-eCute Zero Latency - Next Generation Risk Control Hardware for Electronic Trading Community

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21 October 2015
London , United Kingdom

Revolutionary Fixnetix FPGA hardware brings to an end the 'race to zero' by achieving pre-trade risk checks with zero added latency.

LONDON, 22nd OCTOBER 2015 – Fixnetix, a CSC (NYSE: CSC) company providing front office managed services, today announced the release of iX-eCute Zero Latency (ZL), a groundbreaking risk management and trading gateway supporting electronic trading for investment banks, prime brokers, hedge funds and proprietary trading firms.

Enhancements made to the current Fixnetix FPGA based solution puts iX-eCute ZL significantly ahead of any other pre-trade risk hardware or software available. Fixnetix has fundamentally altered the flow of an order through the pre-trade risk process, affording the client and exchange additional protection against market manipulation with no latency penalty.

Built on the existing technology of the iX-eCute system, ZL conducts over 40 different risk checks in line with SEC, IIROC and ASIC requirements. Specifically, the solution allows for order submission and risk checking in a lower time frame than either function can be independently conducted today.

“For the sell-side, ZL offers complete compliance and regulation adherence without ‘bump in the wire’ latency,” says Dr Marcus Perrett, director of Technology and Development at Fixnetix. “For the buy-side, ZL offers the ability to place orders faster than in-house ‘best of breed’ technologies and maintains broker-sponsored market access. In addition, by design iX-eCute ZL is protocol agnostic which allows for deployment by asset class or geographic region and negates the need for knowledge of a specific exchange underlying API which dramatically reduces time to market and maintenance overhead.”

Alternatives for providing pre-trade risk checks, such as passive order inspection, can no longer compete. These system architectures will always introduce latency when an order is ‘on the wire’ and their methods of identifying market manipulation are simplistic, do not follow the spirit of regulation or allow for action only retrospectively. iX-eCute ZL identifies orders outside of accepted risk parameters and rejects them as they are being generated and before they are sent to the exchange; putting a stop to trades which otherwise might have a negative impact on the marketplace. At the same time, not since ‘naked access’ was the accepted practise for the buy-side has the ‘on the wire’ latency for an order been so minimal. iX-eCute ZL effectively brings to an end the race for zero latency pre-trade risk and does so with unparalleled functionality and effectiveness.

“iX-eCute ZL represents a major step forward for risk control and transparency in the marketplace,” says Hugh Hughes, VP and general manager of Fixnetix. “Five years ago when Fixnetix introduced iX-eCute, we showed the world that increasingly constrictive regulation doesn’t necessarily need to slow you down. With the release of the next generation iX-eCute ZL, Fixnetix has taken another giant leap towards helping the market place negotiate an increasingly complex, regulated and competitive trading landscape. Fixnetix technology, now underpinned with CSC’s global reach and presence mean that iX-eCute ZL will soon be powering a significant percentage of the worlds’ latency sensitive trades.”

iX-eCute Zero Latency is patent pending.

About Fixnetix Fixnetix is a wholly owned subsidiary company of CSC (NYSE: CSC), providing outsourced managed services across multiple asset classes to leading global banks, hedge funds and proprietary trading groups seeking trading, market data, hosting, infrastructure, connectivity and risk management solutions. Fixnetix is in over 40 co-location and proximity hosting centres across the world offering access to over 90 markets. For more information, visit www.fixnetix.com

Fixnetix Contact Jason Mochine, Commercial Director, Fixnetix, 0203 159 4082, jason.mochine@fixnetix.com

About CSC Computer Sciences Corporation (CSC) is a global leader of next generation information technology (IT) services and solutions. The Company's mission is to enable superior returns on our clients’ technology investments through best-in-class industry solutions, domain expertise and global scale. CSC has approximately 70,000 employees and reported revenue of $11.7 billion for the 12 months ended July 3, 2015. For more information, visit the company's website at www.csc.com.

All statements in this press release and in all future press releases that do not directly and exclusively relate to historical facts constitute “forward-looking statements.” These statements represent the Company’s intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside the Company’s control. These factors could cause actual results to differ materially from such forward-looking statements. For a written description of these factors, see the section titled “Risk Factors” in CSC’s Form 10-K for the fiscal year ended April 3, 2015 and any updating information in subsequent SEC filings. The Company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent event or otherwise, except as required by law.

CSC Contacts Rich Adamonis, Global Media Relations, CSC, 862.228.3481, radamonis@csc.com Anne Eisele, Global Media Relations, CSC, 703.641.2315, aeisele@csc.com George Price, Investor Relations, CSC, 703.641.3842, investorrelations@csc.com

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