Tervela Recognized for Transforming Options Market Making Business


NEW YORK - Tervela, the leading provider of high-performance, low-latency messaging systems, today announced that The Banker has awarded the company with an "Innovative Technology Project of the Year" win in the category of wholesale and capital markets. The award was presented at a gala event in London.


"The Banker Technology Awards, now in their sixth year, seek to identify and celebrate excellence and innovation in all areas of banking technology," said Brian Caplen, Editor at The Banker. "Tervela was selected from over 300 entries worldwide for their innovation and ability to transform the options market making business."


Recognizing technology excellence, The Banker awards highlight the innovations and critical trends financial services firms need to stay ahead in today's ever-demanding marketplace. These highly-respected industry awards are judged by a panel of international financial services experts including analysts, editors, end users and luminaries in the field.


"Being acknowledged by a publication in the prestigious Financial Times family is a great honor," said Bob Cramer, CEO at Tervela. "We are proud to be helping our customers gain a competitive edge by transforming the way options market making is done. Improving the efficiencies in the trading process requires a fundamental change in how inherent architectural deficiencies of legacy messaging infrastructure are addressed. Tervela accomplishes this through our next-generation message network platform."


Tervela received the innovation award for enabling a global investment bank to seamlessly overcome the challenges of handling ever-increasing amounts of time-sensitive market data and processing trades while maintaining business continuity. The customer, one of the world's leading options market makers, needed a fail-safe way to process high volumes of options data and sustain continuous message processing during frequent periods of volatility. With Tervela, they were able to stay ahead of the market by accelerating transactions and eliminating critical data loss.


Tervela brought a new level of service and performance to the customer's options market making business, allowing the investment bank to sustain a competitive edge in the financial services marketplace. By using a pair of fault-tolerant Tervela TMX Message Switches(TM) alongside a Tervela TPM Provisioning & Management System(TM), the customer was able to effortlessly handle increasing options data volumes with sub-100 microsecond latency.


Tervela recently announced version 3.0 of its messaging solution, which introduced the Tervela Message Network(TM) platform. The platform includes new product lines for high-performance messaging, persistence and common extensible application services.


About Tervela
Founded in 2004, Tervela delivers the next-generation communications infrastructure - the Message Network - designed and engineered to exceed the information dissemination and processing requirements of the world's most demanding financial services institutions. Addressing the challenges of market volume, volatility and visibility, Tervela invented the message switch to enable investment banks, hedge funds, exchanges and other data-intensive organizations to deliver consistent, outstanding and predictable performance - even in the most demanding market conditions. The company is funded by Goldman Sachs, Sigma Partners, Acartha Group and North Hill Ventures. For more information, please visit www.tervela.com.