BT continues exchange link project with Qatar Exchange
UK telecoms provider BT has added market data from the Qatar Exchange to its Radianz Cloud community as it continues to build up its exchange connectivity network.
The deal will give investment banks, brokers and investment managers direct access to the bourse’s data feeds. In addition to the Qatar Exchange, BT has recently hooked up to Dubai Financial Market, Nasdaq Dubai, the Dubai Gold and Commodities Exchange and the Egyptian Exchange.
“By joining this community of over 15,000 member sites, Qatar Exchange can now offer investors fast and secure access to information about the high-growth Qatar market,” said Qatar Exchange CEO Andre Went.
The addition of Qatar is part of a global trading venue interconnectivity project by BT to establish its Radianz network as the industry-standard solution for trading, market data and securities messaging. This includes partnering with other data centres in various countries to meet clients’ connectivity and co-location requirements.
Radianz is currently connected to 74 exchanges – with plans to add up to 30 further destinations in the next 12 months.
BT says its decision to expand its exchange network is driven by customer demand and the impact of new regulation such as MiFID II, which will create new trading venues for derivatives that are currently traded over-the-counter and lead to the creation of a consolidated post-trade data tape, which will require providers to establish connectivity to a range of trading venues.
“Having Qatar Exchange join our expansive global community is another step in our wider effort to connect to all the key Middle Eastern exchanges,” said Andy Nicholson, president, global banking and financial markets, BT. “This move also further underscores our commitment to providing services across the emerging markets.”