Rapid adoption of hosted service highlights market trend towards need for low latency access to FX markets
Thomson Reuters today announced that over 50 customers are now live on the Elektron-hosted service that provides proximity access to Thomson Reuters Matching, the Company’s anonymous electronic FX matching platform. This milestone comes after Elektron, Thomson Reuters flagship infrastructure for connecting and enabling financial markets, was extended to provide proximity hosting for Thomson Reuters Matching in August 2011. The Elektron managed service enables performance and consistent connectivity to Thomson Reuters Matching via a dedicated infrastructure.
Thomson Reuters launched the Elektron service to support the growth in algorithmic FX trading and provide low latency connectivity to Thomson Reuters Matching together with a managed service environment for customers’ trading applications. With the addition of dedicated connectivity to Thomson Reuters Matching, Elektron Managed Services now offers unparalleled access to an integrated set of content services, and pre and post trade applications.
With over 1,100 subscriber organizations, Thomson Reuters Matching is the leading anonymous electronic trade matching system for the professional community offering unbiased access to real time executable prices on 54 spot currency pairs. Through Elektron, users can access low latency spot and derivatives data from a broad community of banks and FX liquidity providers combined with connectivity to the Thomson Reuters Matching liquidity pool.
“The growth of electronic trading in the FX space has prompted the need for trading firms to have lower latency access to a greater depth of liquidity than ever before,” said Jas Singh, managing director, Marketplaces, Thomson Reuters. “We continue to actively develop, grow and invest in our Matching product and the customers that have joined the hosted version of this solution in the past 12 months are testament to the hard work we are doing around our FX community.”
“Following the launch of the FX Matching service within Elektron, we are delighted with the rapid take up of this service by major participants in the foreign exchange trading community. Our ability to provide low latency access to this key source of liquidity, support customer application collocation and offer connectivity to a range of other markets, content and applications is creating a vibrant trading community for both hedge funds and global sell-side firms,” said Mike Powell, managing director of Elektron Managed Services. “Provision of FX Matching within the Elektron environment is a key part of our strategy to deliver the leading financial services cloud, providing customers with connectivity to market liquidity and trading counterparties in a high performance environment, while simplifying infrastructure deployment and management.”
Thomson Reuters Elektron is a high performance, cross-asset data and trading infrastructure that connects financial institutions and trading venues across the world. It distributes low latency data from over 350 exchange-traded and OTC markets to trading and investment applications, systematic and algorithmic trading engines and desktops such as Thomson Reuters Eikon. With co-location and proximity hosting sites in financial centres globally, Elektron provides low-latency market access and a full range of managed services, including those for key proprietary and third-party data and trading applications.