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7ticks launches connectivity and proximity hosting services for BGC products

15 July 2009  |  1735 views  |  0 Source: 7ticks

7ticks, a leading technology managed services provider for the financial trading sector, and BGC Partners, (NASDAQ:BGCP) ("BGC"), a leading inter-dealer broker, announced today that 7ticks has launched direct access, network management, and proximity hosting services within BGC's Rochelle Park, New Jersey data center.

7ticks' presence at BGC's data center facilitates low latency access and enhanced connectivity services to BGC's proprietary trading platform for fixed income, futures, and derivative instruments.

For qualified BGCantor Market Data subscribers, 7ticks will now be able to provide network access across the entire 7ticks global network for US Treasuries and ELX Futures products. 7ticks will be able to provide connectivity to major liquidity destinations such as Chicago, New York, New Jersey, London, and Frankfurt.

"For algo traders, and those wanting to trade more complex strategies, latency is a key consideration. By working with the 7ticks team to provide co-location and networking services to our clients and preferred vendors, we are offering our customers the ability to implement ultra-fast CEP solutions for our electronically traded products," said Robert Brown, Global Head of eBusiness Integration, BGC Partners."

"7ticks is extremely pleased to be working with the BGC team. Together, we have simplified the complexity and cost associated with the performance trading goals of efficient global market data delivery and order execution," said Joe Bigane, Managing Director of 7ticks. "Our clients are always looking for ways to shave milliseconds off their trades while controlling infrastructure costs. Today's announcement is another example of our rapid expansion to meet the growing demand for these electronic trading services."

BGC and 7ticks are also working with a number of independent software vendors (ISVs) via BGC's preferred vendor program to offer fast connectivity to BGC's electronic trading platform on 7ticks' network. A growing number of ISVs are currently developing their applications for trading the BGC product sets, and 7ticks is providing network management services for vendors seeking connectivity solutions.

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