Correlix
Real-time latency intelligence monitoring software for capital markets firms.
| Date | Investors | Amount | Round |
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| N/A | €0.0 | round | |
| investor investor | €0.0 | round | |
| N/A | €0.0 | round | |
| investor investor investor investor | €0.0 | round | |
| investor investor investor investor investor | €0.0 | round | |
| investor | €0.0 | round | |
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| Total Funding | 000k | ||
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Correlix, founded in 2005 by Shawn Melamed, carved a niche in the financial technology sector by providing latency intelligence and transaction monitoring software for capital markets. The firm was established in New York City with a development center in Herzliya, Israel. Shawn Melamed, a serial fintech entrepreneur, leveraged his insights into electronic trading to build the company, which became a key player in its space before he led it to an acquisition.
The company's primary business was the development and sale of software that offered real-time visibility into the entire lifecycle of trading transactions. Its target clients were entities for whom speed is a critical competitive advantage, including high-frequency trading firms, sell-side and buy-side institutions, and major stock exchanges. Correlix developed a suite of products under the "Latency Intelligence" brand, which allowed customers to monitor, measure, and analyze order flow, system processing times, and the response times of liquidity venues.
A key offering was RaceTeam, a managed service that provided shared, real-time latency visibility across buy-side, sell-side, and trading venues. This service was adopted by a number of major exchanges like NYSE Euronext, NASDAQ, and BATS Global Markets. However, after lower-than-expected revenues from the RaceTeam service, the company sought a buyer. In July 2012, the assets of Correlix were acquired by its competitor, UK-based TS-Associates, for an undisclosed sum. The acquisition combined Correlix's strengths in trade flow analytics and its business-oriented user interface with TS-Associates' capabilities, though the RaceTeam service was discontinued post-acquisition.
Keywords: latency intelligence, transaction monitoring, financial technology, capital markets, high-frequency trading, electronic trading, order flow analysis, trade execution, market data, fintech, Shawn Melamed, TS-Associates acquisition, RaceTeam, low-latency monitoring, trading analytics, real-time monitoring, sell-side, buy-side, liquidity venues, exchange connectivity