Metamako has been named as the ‘Best new technology - Infrastructure’ in the latest American Financial Technology Awards (AFTAs). The category was introduced this year and the award was presented at a prestigious gala dinner in New York City, hosted by Waters magazine and WatersTechnology.com. The AFTAs recognise excellence in the deployment and management of financial technology within the asset management and investment banking communities.
The new category specifically rewards innovative solutions launched in the last 12 months which address a financial services need. Metamako was declared the winner for its work in leveraging FPGA-based technology for trading, a key area of financial markets. Financial institutions need to connect to exchanges quickly, with low latency and a high degree of determinism. Metamako has been providing extremely low-latency devices since inception, but more recently, the need for programmability and configurability has also become crucial, leaving a distinct area for improvement in the market. To rise to the challenge, Metamako launched its unique E-Series devices capable of running up to 3 powerful FPGAs (Field Programmable Gate Arrays) on a single network device, whilst maintaining ultra-low latency of 5 nanoseconds for market data fan-out and 55 nanoseconds for data aggregation.
This makes the E-Series, which leverages the latest Xilinx Ultrascal™ / Ultrascale+™ FPGAs, the most powerful FPGA-based devices and provides financial institutions with vastly improved processing power and speed when connecting to exchanges. The E-Series allows traders to run multiple performance-sensitive applications on a single network device concurrently, such as trading algorithms, matching engines and market data processing. The E-Series also brings with it the ability to run larger and more complex applications than was previously possible.
Kevin Covington, CEO of Metamako, commented: “This award is a significant achievement for the whole company and reflects the importance of our technology to the industry. Since we launched the company four years ago we have constantly strived to bring the fastest and most sophisticated network solutions to the global financial markets and this win shows that we are doing just that.”
Victor Anderson, Editor-in-Chief of Waters magazine and WatersTechnology, said: “The ‘Best new technology’ category distinguishes vendors whose solution not only successfully tackles a current industry need but also innovates in their respective sectors, and Metamako has certainly delivered on both of these.”
Metamako provides low-latency, FPGA-enabled network devices for the financial sector. It was founded in 2013 to allow firms to simplify their network stacks, increase network visibility and support computing at the edge. Many of its clients use its network devices to gain a competitive edge in terms of speed and low latency.