CQG, an order execution, charting and analytics provider, has set up its spreader core servers at exchange group NYSE Euronext's Basildon data centre, in direct proximity to the NYSE Liffe derivatives market.
According to CQG, it is currently the only independent software vendor (ISV) with a trading platform co-located in NYSE Euronext's Basildon facility, which is located 30 miles east of London.
CQG claims its co-location with NYSE Liffe will benefit traders that rely on low-latency technology for spread trading and aggregation. Executions of second legs and modification of orders are offered in under one millisecond, which the firm says is three times faster than the capabilities it had in NYSE Euronext's previous data centre at Cannon Bridge, London.
“No other ISV offers fully-hosted proximity access to the NYSE Liffe market,” said Brian
Vancil, vice president, exchange relations at CQG. “This is part of our commitment to our spreader customers to give them the lowest possible latency at exchanges around the globe.”
NYSE Euronext admitted its first non-trading firm into its data centre at the start of November 2010, allowing connectivity and market data provider Fixnetix to supply connectivity to 56 markets across the world, in addition to exchange group's own markets.
Prior to the admission of Fixnetix into the Basildon data centre, hosted NYSE Euronext customers could only connect to external markets via its proprietary SFTI network.
NYSE Euronext's decision to allow software vendors to host their trading applications and software in its data centre follows a similar move from the London Stock Exchange, which opened up its City of London data centre in mid-October 2010.