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Algo Technologies introduces proximity services from SIX Swiss Exchange

13 October 2010  |  3202 views  |  0 Source: Algo Technologies

Algo Technologies Limited today announced that it has gone live as a provider of proximity services from SIX Swiss Exchange via Equinix's Zurich based data centre.

Equinix's ZH4 data centre is based in Zurich city centre, strategically close to SIX Swiss Exchange AG, the reference market for Swiss blue chip shares. Opened in May of this year, it is one of the most modern exchange data centres in the financial services industry.

Algo Technologies provides fully managed, ultra low latency co-location and proximity solutions. These include AlgoData, its extremely low-latency US and European market data service and AlgoSpan, the inter-exchange network for low latency fibre optic connectivity which links the Equinix Zurich data centre to other major data centres on the exchange/MTF network. Several of these are established Equinix hubs such as Equinix LD4 in Slough, UK, (Chi-X) and Equinix FR2 in Frankfurt (Deutsche Börse/Eurex).

Algo Technologies CEO Hirander Misra said, "This is very much part of our development of a world-class, super fast distributed trading infrastructure. It will cater to the latency sensitive trading community as they move away from trading single locations to trading from multiple locations powered by our low latency market data with our near light-speed fibre network interconnecting their trading hubs via the shortest available path. And in order to allow our clients to access a wide range of trading venues we have created a portfolio of co-location facilities closest to the big pools of trading liquidity at exchanges and MTFs. This deal with Equinix and SIX Swiss Exchange is the most recent of those."

Chris Landis, Managing Director and Head of Operations at SIX Swiss Exchange, commented: "These Algo Technologies services provide new ultra low latency market data and connectivity options for our customers, particularly those wishing to access the deep pool of liquidity available on SIX Swiss Exchange. By extending our proximity service offerings, we are responding to the needs of the large proportion of our customer base that is connecting to the exchange from remote tradinding locations and wishes to improve trading performance without increasing risk. All these benefits result in improved liquidity and more efficient market activity which ultimately benefits the end investor."

Eric Schwartz, President of Equinix Europe added, 'Equinix has expanded rapidly into the world's top financial centers, and we are very pleased to see that Algo Technologies is offering its low latency market data and network services to the members of SIX Swiss Exchange from our state of the art Zurich ZH4 data centre as well as working with us at other key strategic locations.'

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