Chi-Tech Connects UBS Investment Bank to MarketPrizm
London - 20 April 2010
Chi-X® Global Technology, LLC (“Chi-Tech™”), the technology services unit of Chi-X Global Inc., today announced that UBS Investment Bank will connect to the company’s MarketPrizm® pan-Europe trading infrastructure to support the investment bank’s Direct Execution ultra-low latency market access and co-location services in the region.
MarketPrizm is a managed trading infrastructure solution, offering connectivity to the region’s trading venues, market data acquisition, hosting options, applications and services designed to support all types of electronic trading. Optimized for latency-sensitive strategies including high frequency trading, MarketPrizm is a trading ecosystem underpinned by PrizmNet™, the company’s proprietary, dedicated bespoke 10Gbps network for high speed access to the markets.
UBS Direct Execution provides an array of advanced electronic trading services, including direct market access (DMA) and algorithmic trading strategies, to enable their clients to pursue best execution in Europe. The firm is a recognized innovator and award winner in this space. Chi-Tech is providing UBS a bespoke MarketPrizm solution, delivering a technological infrastructure service that will augment their expanding range of co-location and ultra-low latency market access services.
“Our ongoing mission is to continually evolve our capabilities in order to provide our clients with the cutting edge of trading technology and market access,” said Tim Wildenberg, Managing Director, Head of Direct Execution Services EMEA for UBS Investment Bank. “This new infrastructure service will enable us to deliver co-location and even greater speed for our clients in Europe who are focused on low latency trading. MarketPrizm provides us with great flexibility, performance and scalability, which are essential to our clients’ performance.”
Nicolas Levy, Managing Director for MarketPrizm, said: “We are very happy to be working with a clear leader in direct market access and advanced electronic trading services. MarketPrizm will even further enhance the firm’s capabilities in this area, providing an infrastructure service that allows them to on-board new clients quickly and efficiently, and to provide those clients with new services, convenience and great flexibility. We look forward to supporting the firm’s client services strategies and continued innovations.”