Old Mission

Old Mission is a global, multi-asset market maker specializing in the hardest-to-price and most illiquid exchange-traded funds (ETFs). They’ve helped the world’s largest institutions efficiently transfer risk for over a decade by providing trillions of dollars in liquidity.

Old Mission’s ability to understand and price risk has helped make it one of the leading providers of ETF liquidity. Over the years, the company has built high-performance systems and sophisticated algorithms that help the world’s largest brokers, clearing firms and institutional investors identify and act on trading opportunities so they can achieve objectives and make markets operate as efficiently as possible.

Old Mission’s success has largely depended on our ability to supply a global quantitative market-making platform with the real-time information it takes to help our clients transfer risk in a wide range of securities, often at prices that are much tighter than our competition,” said Bryan Russina, CTO, Old Mission. “As we’ve grown rapidly to meet industry demand, we’ve been looking for a data distribution partner who could scale along with us, and Solace has proven they can meet our needs both in technical and market evaluations.”

Specifically, Old Mission needed a platform that could efficiently stream massive amounts of information in an event-driven manner, even through peak and volatile conditions; scale easily to accommodate growing volumes; and work alongside the company’s custom broker and legacy systems as they modernized their system. After exploring many event brokers, Old Mission selected Solace for its ability to augment and leverage those technologies, along with APIs like C, C#/NET, and Python, in such a way that developers can focus on providing value to traders instead of building and maintaining bespoke software.