Trading communications firm IPC Systems has created a new sub-10-millisecond trade route between New York, New Jersey and Toronto, designed to provide trading firms with low-latency access to multiple liquidity venues and exchanges.
The launch of the new route is part of a plan by IPC to build up a trading network to connect buy- and sell-side firms, market data providers and execution venues globally. IPC is currently expanding its optical network across North America, with additional routes in the region under construction.
The company recently launched an express route between New York and Chicago, and upgraded its US-Canada core network infrastructure, which provides a direct gateway to the Toronto equities market.
“Trading in today's marketplace requires express connectivity to allow customers to transact faster, across heavily traded hubs,” said Lou Marchese, vice president of network operations Americas systems, IPC. “By shaving critical milliseconds off the New York to Toronto route, customers in both regions can take advantage of direct market access to multiple trading venues.
In September, the Toronto Stock Exchange announced a deal with trans-Atlantic connectivity provider Hibernia Atlantic to supply low-latency access for US traders. Hibernia claims to offer roundtrip latency of less than 10 milliseconds between Toronto and the New York-New Jersey metropolitan area.