WatersTechnology’s Anthony Malakian speaks with the former CEO of OneChicago David Downey about his new venture, ForecastEx, and the future of prediction markets.
As Anthony notes: It [ForecastEx] tapped Connamara Technologies to build ForecastEx’s tech stack using the former’s EP3 platform as the base, and then the vendor built out surveillance and compliance modules.
Read the full article here
In this lively video, Patrick Young of Exchange Invest talks with Connamara Technologies’ co-founders Jim Downs and Maureen Downs about the growth opportunities and challenges for exchanges around the globe, the role of technology as a driver of growth and the complexities of building a successful exchange.
A matching engine is not an exchange, it’s all the things that go around an exchange. – Jim Downs
Want to learn more about how Connamara Technologies and its EP3 exchange and clearing platform is revolutionizing the exchange industry?
ForecastEx, the new exchange focused on predictions markets for US economic indicators and global climate events, has successfully launched, utilising Connamara Technologies’ EP3 exchange and clearing platform, reports A-Team Insight.
“ForecastEx is underpinned by Connamara’s EP3 platform, which integrates key exchange functions into a unified system, offering market access, data distribution, order matching, execution, risk management, regulatory reporting, and settlement. Designed to meet the needs of evolving markets, including predictions, crypto, and tokenized real-world assets, EP3 is also adaptable to traditional trading markets like equities and derivatives.”
Austin, Texas – August 14, 2024 – ForecastEx successfully launched its innovative predictions exchange for contracts on US economic and global climate events on August 1st, backed by Connamara Technologies’ fully integrated EP3 exchange and clearing technology.
ForecastEx, a wholly owned subsidiary of Interactive Brokers Group, Inc. (Nasdaq: IBKR), is licensed by the Commodity Futures Trading Commission (CFTC) as a Designated Contract Market (DCM) and a Derivatives Clearing Organization (DCO).
US economic events offered on ForecastEx include Unemployment Claims, Consumer Price Index, Retail Sales, Fed Funds, Housing Starts, and others. Global climate events include temperatures and atmospheric CO2.
ForecastEx CEO David Downey:
“We’re impressed with Connamara’s ability to meet our exacting requirements with EP3 and deliver exchange and clearinghouse technology for an entirely new market. As ForecastEx grows, we expect to lean on the EP3 platform and team to introduce more innovative features for our customers.”
Connamara Technologies CEO Jim Downs:
“It’s a privilege to work with the visionaries at ForecastEx and we’re grateful for their trust. We’ve enjoyed the challenge of building this unique market and look forward to working alongside the ForecastEx team to enhance its capabilities over time.”
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Connamara Technologies is a leading provider of fully integrated exchange infrastructure, empowering new and existing exchanges to operate with exceptional efficiency and reliability via its EP3 exchange and clearing technology. Engineered for the evolving needs of the next generation of exchanges and marketplaces, EP3 is shaping the future of financial markets.
For more information, visit www.connamara.tech or LinkedIn.
For more information about ForecastEx, LLC, visit www.forecastex.com.
For information about Interactive Brokers Group, Inc., visit www.interactivebrokers.com.
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In the latest release of EP3’s matching engine, version 0.4.42-1, we’re proud to unveil a transformative capability: cross-platform deployments for cloud CPUs, enhancing the versatility of our exchange technology and offering customers:
What is Cross-Platform Deployment?
Many of us are familiar with MacOS’s transition to “M” chips and the challenges of running older Intel 64-bit applications on M1 and M2 processors. These transitions often require users to wait for software vendors to update their applications and provide MacOS or Universal Binary support. Similarly, we may be aware of 32-bit compatibility mode on Windows but may not fully understand its purpose.
At the heart of these challenges lies the concept of cross-platform deployment. Every computer contains a CPU* chip that operates according to a specific set of instructions. Software applications must be translated into the language understood by the CPU to function properly. There are various “languages” spoken by CPUs, with 32-bit and 64-bit being just two examples among many. For instance, the Mac Notes app must be compatible with both Intel 64-bit CPUs in older machines and ARM 64-bit CPUs in newer M1 or M2 laptops, despite being 64-bit architectures.
The complexity extends to the cloud, where different CPUs offer varying cost levels, speed, and power consumption. However, not all CPUs “speak” the same language.
The EP3 Solution, Inspired by Customer Feedback:
EP3’s new cross-platform deployments solve this multi-language translation issue and empower exchange operators to deploy to any Cloud CPU. EP3 cross-platform deployments are not much different from the MacOS Universal Binary. Our latest updates provide customers with one straightforward installation to use on any Cloud CPU that suits their needs without worrying about application support.
This solution was driven by customer feedback and market demand. An EP3 customer approached us with a desire to lower their cloud costs by leveraging AWS Graviton CPUs. In response to this feedback, we introduced multi-platform support into our software build system, ensuring compatibility with ARM64 architecture and other future CPU innovations. This customer-centric approach to innovation underscores our commitment to providing solutions that meet the evolving needs of our users.
Once released, this feature will be available to all customers regardless of commercial specifics.
Stats: Lower Costs, Performance Enhancements Across the Board
According to our research, substantial evidence supports the benefits of cross-platform deployments regarding cost reduction and performance enhancement.
While we’re just releasing this feature, similar case studies have shown that users can scale up to 30% while reducing costs by 20% using AWS Graviton3. Other examples cite 40% better price-performance and in another, 50% better performance. An average of 20% cost reduction and 30-40% increased performance is significant, even with domain or application-specific variation.
Stay Updated:
Follow us on LinkedIn and subscribe to our newsletter to stay informed about the latest news and releases from EP3, ensuring that you never miss out on the latest advancements in our EP3 matching engine and exchange technology.
*Note: “CPU” and “processor” are interchangeable terms, as are “CPU language” and “hardware architecture.” Similarly, while “machine” typically refers to a device like a laptop, “machine type” may denote a category of CPU/processor that operates using a specific CPU/machine language/hardware architecture.
Exchanges Made Easy…with Google Cloud!
Austin, TX, MAY 2, 2024 — Connamara Technologies announced today that it has joined Google Cloud Partner Advantage at the partner level for the Build engagement model. This gives Google Cloud customers the ability to create financial exchanges and other exchange technology solutions that are built with and run on Google Cloud.
As a Google Cloud partner, Connamara Technologies offers customers the ability to build and operate highly customized exchanges with the EP3 platform as its foundation. Key features of the platform:
EP3 is supported by a dedicated team of professionals with decades of experience building custom software for capital markets. Connamara Technologies’ professional services and support teams allow customers to scale quickly, receive immediate support, and extend EP3’s functionality.
“Although EP3 can be deployed on-prem or to any cloud provider, it is an obvious fit for us to be a Google Cloud partner because we love building on the Google Cloud ecosystem and are confident we can provide our customers and future customers with a better experience of building marketplaces through this partnership with Google Cloud.”
– Daniel Davis, Head of Growth, Connamara Technologies
To learn more about how EP3 can help build your marketplace, contact [email protected].
Connamara Technologies builds future-ready exchange platforms and order matching engines. It’s the company behind EP3, the advanced exchange platform and order matching engine incubated by Connamara Systems.
Learn more: https://www.connamara.tech
AUSTIN, TEXAS, Feb 16, 2024
Connamara Technologies, the company behind EP3, the asset agnostic exchange platform, announces that it has been approved for membership to the Futures Industry Association (FIA, Inc).
Connamara Technologies can leverage this newly granted membership to connect with market participants, regulators, and industry leaders. With FIA’s high-level advocacy support, the Technologies team can access exclusive member-only data visualizations, including levels of trading activity on global futures exchanges, risk exposures at CCPs, the amount of customer funds held by U.S. clearing firms, and SEF volumes. FIA also maintains a central repository of exchange-provided risk controls and practices in global cleared derivatives markets for the use of FIA members.
“It’s an honor for our young company to be granted membership in FIA,” remarked Connamara Technologies co-founder and CEO Jim Downs. “The FIA and its prestigious membership ranks represent the leading thinkers driving future thinking in global derivative markets. Connamara Tech is pleased to be among this exclusive list of innovators.”
Access Connamara Technologies’ member profile and official announcement here.
Connamara Technologies is the company behind EP3, the asset-agnostic exchange platform conceived and incubated at Connamara Systems, a provider of capital market trading solutions since 1998. EP3’s comprehensive platform provides solutions for exchange operations, order matching and execution, market surveillance, and settlement. EP3 creates performant, reliable, and scalable marketplaces enabling an exchange to run continuously with virtually no downtime. Connamara Technologies and its team of experienced professionals enable big ideas and remain dedicated to developing innovative technology that better serves the needs of tomorrow’s exchanges. Learn more: https://www.connamara.tech/company/
Connamara Technologies is pleased to announce that it has successfully completed the Service Organization Controls (SOC) 2 Type II certification created by the American Institute of Certified Public Accountants (AICPA). This certification demonstrates the company’s commitment to the highest standards of client confidentiality and information security with all of its policies, practices, and systems subjected to review. In collaboration with Vanta for continuous monitoring and Johanson Group for formal certification, Connamara demonstrated its scrupulous adherence to the highest standards for data security.
Achieving SOC 2 Type II certification marks a significant organizational milestone in the evolution of Connamara Technologies. SOC 2 is a cybersecurity compliance framework and a widely recognized and respected compliance standard for companies entrusted with sensitive data. Connamara Technologies’ successful certification provides enterprise customers and partners with enhanced confidence.
“Many of our EP3 customers operate exchanges that are government regulated. Although Connamara Technologies is not a regulated entity, we wanted to demonstrate the same level of security controls, policies, and procedures that our customers must meet. The SOC 2 Type II certification allows us to show, on a yearly basis, that we do indeed meet the required levels of client confidentiality and information security,” remarked James Downs, Co-Founder and CEO of Connamara Technologies, upon certification. “We are committed to continually updating and enhancing our practices to keep this longstanding commitment to our customers.”
The full SOC-2 Type II certification report is available upon request. Please reach out to a Connamara Technologies team member with any questions.
SOC 2 is a component of the American Institute of CPAs‘ (AICPA) Service Organization Control reporting platform. SOC 2 reports assess and attest to an organization’s controls per AICPA’s 5 Trust Service Criteria: security, availability, processing integrity, confidentiality, and privacy. SOC 2 includes a technical audit and confirmation that comprehensive information security policies and procedures are documented and followed.
Connamara Technologies builds future-ready exchange platforms and order-matching engines. It’s the company behind EP3, the advanced exchange platform, and order-matching engine incubated by Connamara Systems. Learn more: https://www.connamara.tech/company/
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We are excited to announce that Connamara Technology has joined the Environmental Markets Association (EMA). This membership highlights our dedication to creating innovative exchange platforms for environmental markets.
As an EMA member, we’ll have the opportunity to engage with industry leaders in the evolving landscape of environmental markets such as carbon offsets, alternative energy trading, and other asset classes still yet to be created. This will help Connamara develop tailored solutions that effectively address the unique challenges faced by this industry.
EMA functions as a dynamic hub for collaborative efforts, uniting diverse perspectives with a shared objective: the effective implementation of market-driven solutions to benefit our environment.
With members that include environmental asset brokers, exchanges, large utilities, law firms, project developers, consultants, academics, NGOs and government agencies, EMA acts as a focal point for sharing expertise, facilitating knowledge transfer, and advocating for industry-wide progress.
Notably, EMA assumes the role of vigilant oversight, closely monitoring legislative and regulatory developments that impact these markets, thereby ensuring their adherence to high standards of environmental responsibility.
With our proven track record of delivering EP3, an exchange matching engine and platform, for a variety of markets worldwide, the alignment with the EMA furthers our mission to open new cutting-edge markets and improve infrastructure for existing markets to evolve with the industry.
At Connamara, our expertise lies in crafting scalable, dependable, and adaptable exchange platforms that empower marketplaces to operate their market with confidence and ease. With our EMA membership, we strengthen our ability to engage directly with market participants so that EP3 has up-to-date functionality, providing comprehensive solutions that align with the highest standards of market integrity within environmental markets.
“Connamara has always been a leader in developing new markets so it was an obvious decision for us to join the Environmental Markets Association given our prior experience with environmental market technology and evolution going on in the industry,” Connamara’s Head of Growth Dan Davis said.
By choosing Connamara Technologies as your exchange matching software provider, you get an ecosystem of expertise, collaboration, and thought leadership designed to foster your growth and success in environmental markets.
We are thrilled to announce that Connamara Technology has recently become a member of the Association of Futures Markets (AFM). This strategic move marks an important milestone for Connamara, reaffirming our commitment to excellence in capital market trading technology solutions and matching engine technology. It also serves as a testament to our expertise and deep understanding of the evolving needs of the futures markets.
By aligning with the AFM, we will have the opportunity to further gain invaluable insights into the evolving needs of the futures markets, facilitating the development of tailored solutions that address the industry’s most pressing challenges.
The AFM is a not-for-profit global organization dedicated to fostering collaboration, promoting best practices, and advancing the development of futures markets. Comprising leading exchanges, clearinghouses, technology providers, and market participants, the AFM acts as a hub for thought leadership, knowledge sharing, and industry advocacy. Through regular conferences, working groups, and research initiatives, the AFM plays a pivotal role in shaping the future of the derivatives industry.
Given our strong track record in delivering cutting-edge technology solutions for global capital markets, our membership in the AFM is a natural fit. At Connamara, we specialize in developing scalable, reliable, and customizable exchange platforms and order matching engines that empower you to seize opportunities while managing risks. With our AFM membership, we further bolster our ability to provide comprehensive solutions that align with the highest standards of market integrity and compliance.
Additionally, our membership in the AFM allows us to collaborate with other like-minded organizations and contribute to the collective efforts of advancing the futures markets ecosystem. This will further enable us to leverage industry best practices and regulatory expertise, ensuring that our offerings always align with the highest standards of market integrity and compliance.
In this era of rapid technological advancements, our partnership with AFM demonstrates our commitment to pushing the boundaries of innovation. By choosing Connamara and EP3TM as your matching exchange software provider, you gain access to an ecosystem of expertise, collaboration, and thought leadership, fostering your growth and success in the ever-evolving futures markets landscape.
Stay tuned as we continue to leverage this influential alliance to deliver groundbreaking solutions that empower you to achieve your goals.
Learn more about our trade matching engine technology.
