Global exchange group NYSE Euronext plans to move its primary European data centre, which hosts its matching engine, from France to London, UK in a bid to lure more high-frequency business to its European exchanges.
According to a NYSE Euronext spokesperson, the migration is set for 2010 and is intended to cater for the growing number of statistical arbitrage and high-frequency traders that have proliferated since the introduction of MiFID, most of whom are located in London.
In a statement sent out to clarify newspaper reports about the move, the exchange group said its current primary data centre, located in Aubervilliers, France, will act as a secondary data centre and primary site for various exchange functions after the shift.
The spokesperson was unable to confirm which exchange functions would remain in France, but stressed that market operations, high-level technical support, surveillance and technology development resources for its European operations would remain in France under the responsibility of Roland Bellegarde, head of European cash markets.
In addition, Paris will act as a primary center in the development and operation of NYSE Euronext’s Universal Trading Platform, its trading engine and single point of connectivity for all cash market services, which is fully operational in Europe and soon to be implemented in the US.
NYSE Euronext’s European operations currently include the national stock exchanges in Belgium, Portugal, France and the Netherlands, as well as SmartPool, its pan-European dark pool and NYSE Liffe, its European derivatives exchange.