19 February 2018
visit www.ebaday.com

Burgundy moves matching engines to Interxion Stockholm centre

14 October 2010  |  2349 views  |  0 Source: Interxion

Interxion, a leading European operator of carrier-neutral colocation data centres, today announced an agreement with the Nordic multilateral trading facility (MTF) Burgundy to move its matching engines to Interxion's Nordic Financial Hub in Stockholm.

This agreement allows investment and trading firms to connect at ultra-low latency to Burgundy's platform.

Burgundy, launched on 12 June 2009, was established by a group of the largest banks and brokers in the region and aims to become the leading platform for trading Nordic shares. Backed by 14 of the regions leading banks/brokers, Burgundy's owners collectively account for around half of all trading volumes in Swedish, Norwegian, Finnish and Danish equities.

"New trading opportunities are emerging in the Nordic markets following the increasing fragmentation of the markets. This is fueling increasing demand for colocation and proximity hosting services to the Nordics liquidity venues in order to reduce latency. Banks' statistical arbitrage desks and high-frequency traders are now locating their trading platforms in Stockholm as the Nordic markets are becoming more competitive", said Kevin Dean, Chief Marketing Officer, Interxion. "In response, liquidity venues such as Burgundy are selecting sophisticated data centres allowing market participants to colocate in close proximity to the venue's matching engines."

"We aim to attract 25% of Nordic liquidity, and we believe we have the backing and the infrastructure in place to provide a highly competitive alternative market," said Olof Neiglick, Burgundy CEO. "Colocation services are a key element in our offer; a significant proportion of Nordic trading is currently conducted outside the region. As a result, there is a clear need for low-latency access, and Interxion have the location, the infrastructure, the connectivity and the expertise to provide a turnkey solution to our customers."

"A fast-growing number of investment and trading firms, as well as leading market data, connectivity and technology vendors, is recognising the benefits of locating their servers at Interxion's Nordic Financial Hub data centre, creating a tightly knit community," said Peder Bank, Interxion Nordics Managing Director. "By colocating at Interxion, market participants can gain low-latency access to Burgundy and the other Nordic liquidity venues, benefit from an extensive choice of low-latency connectivity providers and reduce latency, as well as reducing trading infrastructure costs by interconnecting with their counterparties located within the same data centre."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.nextgenbanking.co.ukVisit http://info.nice.comVisit https://www.capgemini.com

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11465 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
9028 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8888 views 10 comments | 22 tweets | 26 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8796 views comments | 15 tweets | 43 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
7397 views comments | 12 tweets | 10 linkedin

Featured job

Find your next job