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Colt has announced that it will be the first managed services provider to directly connect the New York Stock Exchange (NYSE Euronext) data centre (DC) in Basildon in Essex, UK, to the financial markets in Frankfurt, following the exchange’s decision to open up its huge new DC to service providers for the first time.
The service provider says its new ultra low latency route from Basildon to Frankfurt will cut the time it takes to transfer data between the two key trading markets in Europe by up to 10%, potentially providing trading firms co-located in the huge new state-of-the-art Basildon DC with the fastest access to liquidity and trading positions.
Other service providers are likely to pile into the newly opened facility too, of course, furthering the options available to trading firms in the DC who have deliberately moved next to the trade matching engines in the facility to improve their latency and do not want slow non-fibre optic cabling connections to slow down their cross-border European trades.
Andy Young, a low latency specialist at Colt, notes that: “While high frequency trading is now the norm in equities and derivatives, the practice is rapidly growing in other asset classes too, such as Foreign Exchange (FX) and Fixed Income. By opening up the Basildon data centre to other service providers, NYSE Euronext has given high speed trading firms choice over how they connect to these markets.”
Young also went on to add that Colt intends to invest in its other fibre optic cabling routes and low latency services throughout 2012, enhancing the connectivity and services it provides between London to Zurich and Milan, and Frankfurt to Zurich and Milan. “The move follows the acquisition of MarketPrizm last year, which provides high speed traders with instant access to important market information, such as best available prices and options on stocks,” explained Young.
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