Data and technology provider Thomson Reuters has launched its Elektron network in India in response to the demand for access to the market. Working in collaboration with managed IT services supplier Netmagic Solutions, its new facility at the Bombay Stock Exchange will provide co-location hosting with a managed application environment, low-latency connectivity to local market data and access to the Elektron global real-time network.
In connecting to the Bombay Stock Exchange, Thomson Reuters is building on the launch of hosting sites in Tokyo, Hong Kong and Singapore announced earlier this year.
This latest addition to the firm's connectivity network is expected to deliver faster access to the exchange, reducing clients' time to market, infrastructure and maintenance costs by outsourcing parts of their development and data distribution capabilities to Thomson Reuters.
Connection to the Bombay Stock Exchange's low-latency feed will provide real-time market data for all stocks listed on the exchange, including prices, indices and volume for up to five levels of market depth.
Thomson Reuters will deploy its direct feed technology for the Indian cash equity markets as well as providing access to it Elektron network of over 300 electronic trading venues worldwide, global over-the-counter and news content.
Madhu Kannan, managing director and CEO, Bombay Stock Exchange, said, “This is an exciting new initiative for the Indian financial market as we announce our new co-location strategy with the aim of supporting our customers' evolving trading strategies.”