Equinix, a provider of global data center services, and Boston Options Exchange Group, LLC (BOX), an all-electronic equity options market, today announced BOX is moving its operations, featuring an ultra-fast matching engine, within the Equinix NY4 International Business Exchange (IBX) data center.
The deployment provides a secure, high performance trading environment that BOX requires for its present and future plans.
BOX offers many distinctive features in addition to its innovative market structure. Its ultra-low latency matching engine can be accessed from hubs in Chicago and New York and participants wishing to connect at NY4 can arrange space directly through Equinix. The addition of BOX to the Equinix Financial eXhange ecosystem opens up new business opportunities and relationships to all community members through Equinix's cross-connect services.
According to BOX Senior Vice President Alan Grigoletto, "Equinix provides a healthy exchange ecosystem -- in essence a 'living reef' -- where all participants can access additional data feeds and other technology vendors via cross-connects, and where market makers, high-frequency traders and order flow providers can co-exist."
BOX order matching is executed on price-time priority with no order cancellation fees. BOX's key feature is its Price Improvement Period (PIP) auction, which has returned almost $270 million in savings to customers since BOX's launch. BOX offers multiple competing market makers and has no seats to buy or lease. BOX has very simple fee structures.
"We welcome BOX to the Equinix NY campus and to our Financial eXchange ecosystem that provides the choices that help them to deliver their optimized transaction performance, the highest levels of security and an opportunity to meet their strategic growth initiatives when needed," said John Knuff, head of business development, Equinix."Its move to Equinix further benefits our existing community members who may want to connect with the Boston Options Exchange."