OptionsIT extends Pipe to ASX
07 September 2010 | 2346 views | 0
Options IT, a leading provider of ultra-low latency market data and connectivity, fully managed application hosting, and high-performance technology Infrastructure-as-a-Service (IaaS) for the buyside and sellside, today announced it has expanded its PIPE Velocity ultra-low latency market connectivity service to include the Australian Securities Exchange (ASX).
Velocity clients may now receive ASX market data from the Options PIPE platform.
Options IT's direct connectivity to the ASX comes as competition is increasing among equities markets in Australia. The ASX is expected to launch its revamped trading platform later this year, and additional alternative trading systems are anticipated to go live in 2011. The increased competition among markets is anticipated to lower trading costs and increase trading volume in the market.
"The Australian market is becoming increasingly attractive to our clients, due in large part to the significant transformation currently underway at the ASX," said Nigel Kneafsey, CEO of Options IT. "As the markets become faster and more efficient, leading to lower costs and higher volumes, we believe client demand to trade the Australian market will continue to grow."