Trading technology provider the Algo Group has gone live with network connectivity services for pan-European multilateral trading facility (MTF) Quote MTF, ahead of the venue's launch under new liquidity arrangements on 4 April 2011.
The vendor's connectivity venture, AlgoSpan, will offer accessibility to Quote MTF via its ultra-low latency international trading network and hosted client community which uses co-location facilities at the Interxion data centre in east London.
Quote MTF data and trading facilities will be accessible on AlgoSpan's network, while Algo Technologies will add Quote MTF market data to its AlgoData ultra-fast raw, normalised and consolidated European and US market data feeds offering.
“We welcome the partnership with Algo Technologies which increases accessibility to our pan-European lit venue,” said Christian Bower, commercial director at Quote MTF. “The availability of low-latency infrastructure is essential in accommodating the growing list of proactive subscribers who are recognising that Quote MTF is set to become a highly relevant part of Europe's trading landscape.”
Latency-sensitive trading firms can use AlgoSpan's network to achieve high-speed access from major data centres across Europe and the United States of America to Quote MTF.
Quote MTF is offering a total of 40% equity in return for liquidity provision agreements, which are set to start in April. The venue claims that it can break even on only a fraction of Europe's liquidity. Other MTFs have struggled to achieve this, with Chi-X Europe providing the only exception to the rule in 2010.
Meanwhile, connectivity provider Atrium Network is offering connectivity to the London-based PLUS Stock Exchange (PLUS-SX), which delivers cash trading and listing services for small- to mid-cap companies, as well as the Zurich-based SIX Swiss Exchange.
Atrium Network's ultra-low latency Exchange Ring is connected to PLUS-SX via Atrium Network's point of presence in PLUS-SX's data centre, allowing PLUS-SX to take advantage of a low-latency direct optical path and consolidated data feeds offered by Atrium.
The Exchange Ring offers clients a point of connectivity to the entire marketplace, enabling participants to remain fully operational as exchanges and venues migrate their data centres to new platforms.
Retail-focused exchange group PLUS Markets, which PLUS-SX is part of, is trying to cut its technology infrastructure costs to below Â£5 million in 2011 in a drive to generate profit.