Global expansion of managed DMA infrastructure continues as traditional service providers retreat
Object Trading, a provider of a multi-asset trading infrastructure, expands its Direct Market Access (DMA) Service Platform by announcing today that fully managed services are now available at TMX Group’s co-location centre for access to the Montréal Exchange (MX). This expansion provides flexibility for the buy-side and sell-side, in response to the sell-side experiencing mass retrenchment while exchange volumes increase.
With fully managed services provided at TMX Group’s co-location centre, Object Trading continues to facilitate the optimal relationships between the buy-side and sell-side, enabling them to access liquidity where it is growing, and to create liquidity where opportunities await. Object Trading’s clients now have production access to 7 co-location centres and over 60 markets worldwide, without needing to additionally invest in trading infrastructure, hardware, software or maintenance.
Object Trading has been a DMA connectivity provider to the MX for twelve years. Recently, many banks have been shrinking or closing their Futures Commission Merchant (FCM) units to reduce costs, resulting in a retreat from the international markets. In response, Object Trading’s DMA Service Platform provides a flexible solution to help sell-sides reconfigure their prime brokerage and clearing businesses. Object Trading’s platform also allows the flexibility for buy-sides to provide their own market access, independent of their prime service relationships, choosing specialist FCMs that best serve their account size, leverage requirements, geographical, and asset class needs.
Object Trading’s award-winning platform offers turnkey, low-latency, co-located market access, featuring a single gateway for normalised market data and order execution. Dan Hubscher, Object Trading’s Director of Strategy, added, “Our conformed broker community has its execution, clearing, and risk management infrastructure in place, and its related client onboarding processes active, on the Object Trading platform.” Brokers on the platform are immediately ready to take client business and facilitate trade execution and clearing services for clients accessing exchanges on the Object Trading platform, which now includes managed, co-located access at the MX.
In October 2015, Object Trading announced the co-location of its managed software, client gateways and global connectivity in the Australian Liquidity Centre (ALC), ASX’s data centre. The expansion of the platform to TMX’s MX centre is the latest in Object Trading’s growth strategy, enabling Object Trading’s existing and new clients to easily trade on the MX, with minimal onboarding times and a scalable infrastructure supporting all forms of electronic trading.