UK-based derivatives systems vendor Patsystems has unveiled an application service provider, ”XConnect', which will allow market participants to connect directly to multiple exchanges in the Asia Pacific region.
As part of the launch, Patsystems is setting up three new ASP hubs, based at Hong Kong, Singapore and Sydney respectively. These hubs are designed to provide localised exchange connectivity, a choice of trading applications, API access and pre-trade risk management.
Together with the firm's existing hub at Tokyo, the plan is to create an XConnect network that allows clients access to exchanges without direct membership. Patsystems claim that this network will save clients having to invest resources in technology, infrastructure or technical support.
Barry White, regional director of Patsystems' Asia Pacific operation, said, “Patsystems' XConnect enables new and existing customers to leverage our XLink technology across the four Asian hubs, providing customers with greater connectivity options. We look forward to on-boarding customers to our efficient and cost-effective ASP solution.”
Patsystems plans to announce the location of additional ASP hubs later this year.