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Fastest-growing US Equities Stock Exchange, MEMX, Uses Azul to Power Its High-Performance Java-based Trading PlatformAzul announced today that Members Exchange (MEMX), a market operator founded by a diverse group of participants to benefit all investors, has chosen Azul Platform Prime and Azul Platform Core as the runtimes for its entire Java estate. MEMX launched in 2020 and today is the fastest growing US equities stock exchange. The company's goal is to increase competition by delivering a more transparent and user-friendly platform at a lower cost than other stock exchanges. To build the platform of the future, the MEMX development team used architectural constructs that promote strong separation between data and compute, adopted open standards, and leaned into the cloud to develop a highly scalable, modular exchange with strengthened security. One of the open standards adopted was Java, which the MEMX development team chose as their platform language because of its portability, stability, reliability, security, and ease of updates: a crucial decision for the success of the platform. "Given our size and launch timeline, we had to thoughtfully consider where we wanted to take technology risk and where we didn't," said Tom Fay, COO, MEMX. "We knew we wanted the portability and stability of Java, but didn't want to expend resources addressing runtime performance nor be exposed to unnecessary commercil licensing and support costs. We chose to work with Azul to de-risk the technology build and allow our team to focus on developing business logic. We got our Java signed, sealed, and delivered from the Java experts, and could keep our singular focus on creating the best exchange." MEMX deployed Azul Platform Core, based on Azul's Zulu builds of OpenJDK, across all its Java development workflows. For its mission-critical, performance sensitive applications, such as its flagship exchange and time-series data platform, MEMX deployed Azul Platform Prime, Azul's OpenJDK-based Java runtime with enhanced capabilities, including hyper-optimized execution, pauseless garbage collection, and rapid warmup. Out of the box, Azul Platform Prime delivered immediate results for MEMX, including significantly improved warm up time, microsecond latencies in time-critical processes, and elimination of the jitter associated with Java, ensuring orders are processed deterministically. Azul Platform Prime has helped MEMX free up valuable engineering resources from spending large amounts of their time tuning the platform and application suite, allowing them to focus instead on new development and strategic business initiatives. "MEMX is able to compete with the established equity exchanges because of its innovative technology platform," said Scott Sellers, CEO, Azul. "In the finance sector, microseconds matter. Security matters. Time to market matters. So their choice to build this platform on Java and Azul was a natural one. We are excited to support their mission of delivering a transparent, simple and user-friendly equities exchange platform." Resources To see why top financial firms have made the switch to Azul visit: https://www.azul.com/industries/financial-services/ To learn more about how MEMX uses Azul Platform Prime, read the case study: https://www.azul.com/resources-hub/case-studies/cs-memx-stock-exchange To learn more about Azul Platform Core and Azul Platform Prime, visit https://www.azul.com/products/core/ and https://www.azul.com/products/prime/ About Azul Azul, provider of the Java platform for the modern cloud enterprise, is the only company 100% focused on Java. Millions of Java developers, hundreds of millions of devices, and the world's most highly regarded businesses trust Azul to power their applications with exceptional capabilities, performance, security, value and success. Azul's customers include 27% of the Fortune 100, 50% of Forbes Top 10 World's Most Valuable Brands, all 10 of the world's Top 10 financial trading companies and leading brands like Avaya, Bazaarvoice, BMW, Credit Suisse, Deutsche Telekom, LG, Mastercard, Mizuho, Priceline, Salesforce, Software AG, and Workday. Learn more at azul.com and follow us @azulsystems.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220113005181/en/ |
