Financial IT firm Savvis and telecoms group Orange have both established new links to alternative trading platforms, as demand for low-latency trading connectivity grows.
Savvis has connected to Canadian alternative trading system Chi-X Canada and pan-European multilateral trading facility (MTF) Turquoise. Both platforms can now be accessed through the Savvis Exchange Express (SEE) and Community of Interest Network (COIN) connectivity solutions.
COIN offers low-latency connection via Savvis’ private, managed global financial network. SEE offers lower-latency links through direct connectivity to each exchange using the Savvis’ low-latency Metro Ethernet network.
Meanwhile, Orange Business Services’ Trading Solutions division has connected its low-latency trading network to pan-European MTF Chi-X Europe. According to the firm, the connection will help its users access new sources of liquidity, increase their growth opportunities and meet their best execution obligations under MiFID.
Orange Business Services’ trading network, which connects more than 2,000 financial institutions, uses a multi-protocol label switching (MPLS) platform – a data-carrying mechanism capable of using any networking protocol – to provide links to new liquidity pools worldwide.
“Our robust MPLS network connection to Chi-X Europe ensures that users benefit from much lower latency and connectivity costs compared with legacy suppliers operating on older generation technology networks,” said Lionel Grosclaude, COO at Orange Business Services – Trading Solutions.