The Australian Securities Exchange (ASX) is to launch ASX Net, a high capacity network for connectivity to the Australian financial market, in September 2010.
ASX Net is designed to support the transfer of multiple data feeds so that clients can determine the products, services and liquidity they wish to access, including those of ASX, through a single connection point. This should lower costs and management demands for clients.
ASX will be built using high-bandwidth dark fibre from PIPE Networks, replacing its current network ASX NiPPA.
Network design has been largely completed and work has commenced on provisioning the network. It is due to be phased in starting in September with completion by October this year.
ASX Net will be initially implemented to support the new trading system ASX Trade, with access to additional ASX third-party services made available afterwards.
ASX Trade is a matching engine building on Nasdaq OMX’s INET technology, expected to replace the incumbent Nasdaq OMX ITS system in November 2010, cutting latency from milliseconds down to microseconds.
The systems overhaul by ASX is designed to keep the exchange ahead of the game as the Australian equities market opens to alternative trading systems.