UBS Investment Bank plans to connect to MarketPrizm, a pan-European trading infrastructure offered by Chi-X Global Technology (Chi-Tech), the commercial technology services unit of global trading venue operator Chi-X Global.
The bank plans to use the link to support its Direct Execution low-latency market access, algorithmic trading and co-location services division. Chi-Tech will provide UBS with a bespoke MarketPrizm solution.
MarketPrizm is a managed trading infrastructure which offers connectivity to Europe’s trading venues, market data, hosting and other applications and services designed to support all types of electronic trading.
The infrastructure, which Chi-Tech said is optimised for latency-sensitive strategies such as high-frequency trading, is underpinned by PrizmNet, a proprietary 10-gigabit-per-second network.
“This new infrastructure service will enable us to deliver co-location and even greater speed for our clients in Europe who are focused on low-latency trading,” said Tim Wildenberg, managing director, head of Direct Execution Services EMEA for UBS Investment Bank. “MarketPrizm provides us with great flexibility, performance and scalability, which are essential to our clients’ performance.”