Telx, one of the largest domestic interconnection and colocation data center operators, announced today electronic trading networks and managed services leader 7ticks will expand its presence in Telx's facility at 350 East Cermak Road in downtown Chicago.
The expansion is part of an ongoing effort by Telx and 7ticks to connect the capital markets communities to offer greater opportunities for proprietary trading groups, brokers, and hedge fund managers to gain direct exchange access through proximity hosting. The companies also strive to provide capital market customers a competitive advantage through the lowest latency network connectivity and best possible routing available on the market today. The expansion gives 7ticks additional colocation space and expands the reach of 7ticks' direct exchange access to such exchanges as the CME Group and the IntercontinentalExchange (ICE). Existing Telx customers at the Chicago location will now be able to easily and directly connect into 7ticks' growing worldwide network.
"Telx has impressed us with their ability to offer a cost effective blend of datacenter space and power with readily available interconnectivity," said Joe Bigane, Managing Director for 7ticks. "We're also excited by their commitment to the global marketplace. With access to some of the world's key exchange markets covering all major asset classes, Telx houses the scope of applications required throughout trading communities. We now are able to offer this access to our clients through Telx, and we are confident Telx will provide our clients with the resources they need to grow."
The technology used by today's financial markets must offer the data volume and speed needed to effectively access data and execute trades for maximum returns. Understanding this, Telx offers capital market customers direct connections to 7ticks and a variety of other exchanges, data providers, order management vendors, and other companies to offer a single solution for managing market data and trading orders while minimizing capital expense for technology.
"Low latency and proximity hosting used to be competitive differentiators, but they are increasingly becoming necessary to be successful in the financial marketplace," said Bill Kolman, Executive Vice President of Sales for Telx. "Telx specializes in providing the secure, reliable market access via some of the lowest latency connections available in the industry today, as well as offering the best hardened facilities and support services to meet every customer need. And, the Telx data center gives our tenants access to the services of the other tenants in the Telx financial ecosystem. It's an exciting win-win for our customers and their communities."
Telx recently launched its Financial Business eXchange, FBX, a business unit devoted to global partnerships with capital markets customers and their communities, to create some of the industry's fastest and most direct market connections between market data vendors, order management vendors, sell-side/broker dealers, and buy-side/hedge funds.