Nasdaq OMX Nordic offers US, Canadian connectivity
Nasdaq OMX Nordic, which operates exchanges in Copenhagen, Helsinki, Reykjavik and Stockholm, has launched a connectivity service that will enable its Nordic and Baltic exchange members to send orders for US and Canadian equities to North American equity markets.
Nasdaq OMX, which owns the Nordic exchange operator, will partner with US broker Citigroup to execute orders sent by exchange member via its existing Nasdaq OMX Nordic connection.
The new service, Market Access – US & Canada is designed to offer liquidity across the US and Canadian home markets via a single gateway.
Hans-Ole Jochumsen, president of Nasdaq OMX Nordic, added that the company hoped its new offering would enable users to broaden their choice of investment strategies, accessing US and Canadian equities, American depository receipts and exchange traded funds.
Singapore Exchange selects Corvil
The Singapore Exchange (SGX) has selected latency management service provider Corvil's Latency Management System to monitor the performance of its new trading system, Reach. The Corvil solution, CorvilNet, will also be deployed within SGX's colocation infrastructure to manage latency between SGX members and the Reach trading platform.
CorvilNet is capable of monitoring the latency for all order entry transactions, market data feeds, and the network simultaneously in real time. It will be used for internal latency monitoring of the Reach trading platform and network, including the new SGX co-location facility. The full trading path from order entry through to trade update in the market data feed will be monitored continuously at microsecond granularity.
“Our goal is to achieve both ultra-low latency and very high throughput,” said Bob Caisley, chief information officer at SGX. “By deploying CorvilNet solution it enables us to assure and demonstrate achieve of these objectives to our market participants.”
SGX is planning a takeover of the Australian Securities Exchange, a deal currently being examined by regulators in each country. If successful, the combined market would be the fifth largest exchange group by market capitalisation globally.
Level 3 lays down the line for high-frequency traders
Communication services provider Level 3 Communications has established ultra-low latency network connectivity routes to Milan and Zurich from London, Frankfurt, Madrid, New York City and Chicago.
Using the low-latency routes, customers connecting to financial centres in Milan and Zurich have the ability to access high-speed transport rates with low transmission delays – features that the firm hopes will appeal to high-frequency traders.
Level 3 operates nine low-latency route options, designed to meet the needs of high-frequency traders. In 2010, research firm TABB Group estimated that high-frequency traders accounted for approximately 56% of total equity trading in the US and 38% in Europe.
Trading Technologies Sydney data centre opens doors
Trading software provider Trading Technologies International (TT) has opened a new data centre in Sydney for TTNET, the fully managed hosting solution for its trading systems. The new centre is the seventh TTNET facility for TT's global hosting service. The company also operates TTNET hubs in Chicago, New Jersey, London, Frankfurt, Tokyo and Singapore.
The new hub is designed to provide TT's Sydney-based clients with local low-latency access to all TT-supported markets through TTNET's proximity hosted architecture. TT currently connects to approximately three-dozen markets on five continents.
The Sydney facility also supplies TT's global customer base with expanded market access to the Australian Securities Exchange (ASX). Previously, TTNET offered connectivity to ASX from its hubs in Singapore and Chicago.
TT operates seven data centres in North America, Europe and the Asia-Pacific region. A Sao Paulo data centre co-located with the Brazilian exchange BM&F Bovespa matching engine is scheduled to open in spring 2011.