Low-Latency.com

Chi-X Europe is to use Equinix as its primary and secondary provider of secure co-location and low-latency connectivity. Equinix – a network-neutral datacentres and Internet exchange services provider – will host Chi-X Europe’s matching engine at its primary datacentre in London and secondary datacentre in Frankfurt, providing participants the option of proximity-hosting their servers at either location.

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Low latency networking solution provide Corvil, has installed 20 appliances globally for Deutsche Börse Systems (DBS), measuring latency between the DBS’s Frankfurt data centres and all Eurex access points worldwide.

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In the post-MiFID European trading landscape, new competition to traditional exchanges has forced down exchange fees and encouraged the adoption of new, low-latency technologies that speed up the trading process. With liquidity increasingly fragmented, forward-thinking institutions stand to gain market share by investing in liquidity discovery solutions. Those deciding against embracing the change do so at their peril.

A-Team has authored a new Industry Briefing which examines how MiFID is changing the face of liquidity in Europe and shows how a low-latency liquidity discovery solution can turn the challenge into an opportunity.

Liquidity Discovery in Post-MiFID Europe

Technorati Tags: MiFID, liquidity discovery, European liquidity

Turquoise, the multilateral trading facility established by nine European investment banks, has chosen BT for secure hosting services and low latency connectivity. By working with BT, Turquoise will be able to offer its users fast, direct access to the trading platform and the option to co-locate their trading engines with BT to achieve near-zero trading latency, it says. Turquoise will be hosted in two of BT’s data centres in the London area. The data centres will be connected by BT’s low latency technology, enabling synchronous data transfer. Members of Turquoise will be able to access the trading facility via a choice of connectivity options including the Radianz Shared Market Infrastructure.

Turquoise News Release

Technorati Tags: BT, Turquoise, multilateral trading facility, secure hosting, co-location, synchronous data transfer, Radianz Shared Market Infrastructure

Bats Trading, operator of the Bats ECN, is now available via Savvis Exchange Express, which provides low latency metro Ethernet network access to the Bats trading platform. Bats also participates in Savvis’ Proximity Hosting environment in Savvis’ New York area data centre. Savvis Proximity Hosting provides hedge funds and the automated trading community with a low latency environment for market data and trade execution by hosting their application servers in Savvis’ data centre in close proximity to the order matching engines of major exchanges and ECNs.

Savvis News Release

Technorati Tags: Bats Trading, Bats ECN, Savvis, Savvis Exchange Express, metro Ethernet network access, Savvis Proximity Hosting, co-location

Pure Trading, the first alternative trading system in Canada to offer a fully electronic continuous auction market, has appointed Transaction Network Services to provide connectivity via its fully managed Secure Trading Extranet. Transaction Network Services is working with Pure Trading to facilitate high capacity, low latency and cost effective connections with new and existing customers. In addition to providing Pure Trading with connectivity, the link to TNS will allow access to TNS’ extensive financial community of interest.

TNS News Release

Technorati Tags: Pure Trading, Transaction Network Services, alternative trading system

GL Trade’s GL Connect ASP Liffe hosted service will soon be connected to the LIFFE Connect trading system via NYSE Euronext Liffe’s new 100Mbps High Speed Access. The GL Connect Liffe ASP service is now entirely run on Linux systems to provide clients with increased levels of performance and greatly reduced latency, it is claimed. With resilience for market data and ASP trading provided via multiple-site connectivity, GL Trade is now in process of migrating to Liffe’s new 100Mbps offering to offer its clients the best trading infrastructure, it says.

GL Trade News Release

Technorati Tags: GL Trade, GL Connect ASP Liffe, NYSE Euronext Liffe, Linux

Interdealer broker ICAP has completed the most recent phase of enhancements to its EBS Spot FX electronic trading platform. These enhancements improve functionality, increase the frequency of market view updates and speed of data delivery, and provide greater order book transparency for all EBS customers, it says. The first step in the upgrade of the EBS platform involved a network and hardware upgrade to Linux which has contributed to a 75 per cent improvement in global average deal times since January 2007. Intra-regional deals, for example London-London or New York-New York, are on average now completed in 5-8 milliseconds.

ICAP has recently reduced the price distribution interval (time slicing) on the EBS platform by 50 per cent to 500 milliseconds for all EBS customers. Customers of EBS Live, the premium EBS FX market data feed, have also seen price update frequency increased to once every 250 milliseconds, up from once every 500 milliseconds. Latency on EBS Live data transmission has been reduced from 95 milliseconds to 5 milliseconds since Q1 2007, it claims.

ICAP News Release

Technorati Tags: ICAP, EBS Spot FX electronic trading platform, Linux

Nomura subsidiary Instinet has formed Chi-X Global, a holding company for the operations of Chi-X platforms in Europe, Canada and the Asia-Pacific region (Electronic Trading, Asia Markets IT, 8 February 2008). Additionally, Instinet intends to launch Chi-X Australia, an alternative trading system (ATS) based on the same technology and pricing model as Chi-X Europe and the soon-to-launch Chi-X Canada. Once live, Chi-X Australia, like Chi-X Europe and Chi-X Canada, will be designed to provide market participants with low cost trading through its high-capacity and low latency technology, innovative pricing structure and open, FIX (Financial Information eXchange) protocol-based architecture.

Instinet News Release

Technorati Tags: Instinet, Nomura, Chi-X Global, Chi-X Australia, Chi-X Europe, Chi-X Canada, FIX protocol

As reported in Low-Latency.com’s sister title Market Data Insight in December 2007, LiquidityHub, a consortium of leading investment banks, has confirmed its selection of FioranoMQ from Fiorano Software, a provider of business integration and SOA-ESB middleware solutions, as its messaging infrastructure for implementation of its trade messaging system. LiquidityHub is using the FioranoMQ 2007 Real Time messaging system to support a low latency, high-performance operational environment. LiquidityHub has standardised on Fiorano technology to underpin all of its real-time fixed income trade messaging system requirements.

Fiorano News Release

Technorati Tags: LiquidityHub, Fiorano Software, FioranoMQ