Nasdaq OMX follows competitors with proximity services
Published on June 26, 2008.
Nasdaq OMX Europe has become the latest multilateral trading facility (MTF) to offer proximity services to its clients, following in the footsteps of rival MTFs Turquoise and Chi-X.
The proximity hosting service will allow members of the MTF to locate their trading engines near to the Nasdaq OMX data centre in London. Nasdaq OMX Europe claims the service, also known as co-location, will enable even faster connectivity to the pan-European market. The SWX Swiss Exchange and the London Stock Exchange have also announced similar initiatives.
“Our proximity services allow customers to physically place their trading systems next to our matching engine, which removes any latency associated with external networks,” said Chris Concannon, executive vice president, transaction services, Nasdaq OMX, in a statement. “We are looking to provide our customers with a range of choices in how they connect to our market. This product is another connectivity option designed to meet the needs of high performance traders.”
Nasdaq OMX Europe, previously known as Nasdaq OMX Pan European Market, started testing its platform earlier this month and will offer the co-location service immediately. It is expected to launch in September this year.
