Derivatives trading and risk management solutions provider Patsystems has launched its Patsystems XConnect hub in London, which it says will reduce connectivity costs and enable smaller trading firms to connect to a wide range of trading venues.
Patsystems XConnect is a fully-managed application service provider (ASP) network designed to provide users with low-latency connectivity to futures markets globally as well access to Patsystems' suite of front-end trading tools. Connecting to XConnect means that users can delegate their maintenance and support to Patsystems, thereby reducing in-house costs.
“The London ASP enables Patsystems to extend our offerings to a wider range of financial institutions, including those who are not candidates for a traditional implementation model or prefer hosted technology solutions,” said Graeme Neilly, director of global account management at Patsystems.
The new London data centre adds to existing hubs in Chicago, Hong Kong, Singapore, Sydney and Tokyo. All Patsystems XConnect hubs are connected using the firm's XLink technology, designed to allow seamless exchange connectivity and order routing between any Patsystems hub or client site. This enables trading firms to place orders onto the network, using a participating broker's connection to make the trade in any connected location.
“London is an important addition to our global offering, serving as an access point for European market connectivity,” said Neilly.
The London hub launched with connectivity to over 20 futures exchanges globally, including connectivity to derivatives markets such as the London Metals Exchange.