Exegy has announced the launch of Nexus, a market data platform designed to eliminate the cost-performance trade-offs that have long shaped infrastructure decisions in high-volume trading.
Nexus introduces a hardware-based approach to replace software-heavy deployments with managed FPGA appliances and SmartNICs.
“Reimagine market data processing along the full data path from raw tick to executed trade”
David Taylor, CEO at Exegy, commented, “Sustained volatility and high volumes present attractive trading opportunities to savvy firms with the strategies and moxie to capture them. Nexus offers them a transformative tool to conquer the unattractive compromises that they would otherwise have to make when building their trading platform. With Nexus, we leveraged our proven FPGA expertise to fundamentally reimagine market data processing along the full data path from raw tick to executed trade.”
The new platform processes market data at line rate through a single-hop FPGA, delivering normalized data to trading applications in under 2 microseconds. According to the company, this allows trading strategies to respond within 3 microseconds with minimal jitter, using only a single CPU core per client server.
Early deployments demonstrate infrastructure savings of up to 41%. A return on investment study with a U.S. equities broker showed a reduction in server count from 32 to 22 when switching to Nexus, cutting operational costs by 36% and saving an estimated $1.4 million annually. When combined with Nexus SmartNICs to offload API processing, server count fell to 17, leading to almost $2 million in annual savings.
“Most firms still rely on disconnected systems to manage different market data workflows”
Laurent de Barry, Vice President of Ultra-Low Latency Trading Products at Exegy, said, “Most firms still rely on disconnected systems to manage different market data workflows. This leads to unnecessary complexity, duplicated costs, and limited scalability. Instead of relying on traditional, server-heavy deployments, Nexus consolidates data infrastructure needs into a single, efficient, FPGA-powered platform that supports global market visibility. This gives a centralized, scalable delivery of market data with fewer servers, less power consumption and lower costs.”
The company stated that Nexus can deliver raw and normalized data directly to FPGAs used by Smart Order Routers or market makers for ultra-fast order routing to co-located exchanges or transmission over wireless links. The solution supports execution workflows across equities and futures, with additional asset classes and features, including sweeping logic and fast-cancel functionality, to be introduced in future iterations.
Nexus integrates with the broader Exegy trading stack, including tick-to-trade and execution platforms such as SREX and nxAccess. This allows users to build a fully connected, low-latency infrastructure for both market data delivery and order execution.
The new platform is managed end-to-end by Exegy, with monitoring, maintenance, and software updates provided as part of the service. It is already being made available to early adopters, who are testing the production API in a dedicated integration environment. Full delivery is scheduled to begin in the fourth quarter of 2025.
Exegy said Nexus was developed in response to client feedback across agency brokers, hedge funds, and market makers. The initiative aims to consolidate systems, simplify scaling, and reduce costs across the industry’s most latency-sensitive environments.
Read more on The Industry Spread
