Interxion, a European data centre operator, has agreed to provide members of specialist Nordic multilateral trading facility (MTF) Burgundy with proximity hosting services and enable low-latency access to the platform from outside the Nordic region.
The partnership will allow Burgundy’s members to locate their trading engines alongside Burgundy’s matching engine at Interxion’s Stockholm data centre, thereby reducing latency.
“We aim to have 25% of Nordic liquidity by end next year, and we believe we have the backing and the infrastructure in place to provide a highly competitive alternative market,” said Olof Neiglick, Burgundy’s CEO, in a statement. “Proximity hosting services are a key element in our offer – a significant proportion of Nordic trading is currently conducted outside the region. As a result, there is a clear need for low-latency access, and Interxion have the location, the infrastructure, the connectivity and the expertise to provide a turnkey solution for our customers.”
Burgundy was launched on 12 June by a group of the largest banks and brokers in the Nordic region, including SEB, Nordea Handelsbanken, Swedbank and ten other banks and brokers. The MTF’s owners collectively account for around half of all trading volumes in Swedish, Norwegian, Finnish and Danish equities.