Telx, a leading interconnection and colocation provider in strategic North American markets, today announced that the Algo Group, the U.K.-based provider of next-generation trading technology solutions, has joined its Financial Business Exchange (FBX) and located its electronic trading platform solutions in Telx's 350 East Cermak Road data center facility in Chicago.
The agreement has enabled AlgoSpan, the fiber optic connectivity platform offered by the Algo Group, to add access to the Chicago Mercantile Exchange (CME), the world's largest and most diverse derivatives marketplace, and the Intercontinental Exchange (ICE) to its ultra-low latency trading connectivity and proximity hosting community. Telx's FBX customers can also leverage AlgoSpan's 'shortest path' access to other major liquidity venues across Europe and the United States. In addition, it will allow Algo Technologies to offer its low latency U.S. and European market data feeds to trading firms within this strategically important location. By selecting Telx's colocation services, the Algo Group has extended its direct market access data infrastructure, ensuring that its customers have the highest-quality, lowest-latency trading experience.
The Algo Group evaluated leading data center providers in the Chicago area and ultimately selected Telx based on the strategic location of the 350 E. Cermak Road facility, as well as its connection density and overall security and reliability. "By participating in the Telx FBX, the Algo Group can offer trading firms a competitive advantage through low latency network connectivity and what we believe is the best, low latency data service on the market today," said Hirander Misra, chief executive of Algo Technologies and co-founding director of AlgoSpan. "Telx's extensive financial markets customer base, combined with our super-fast connectivity and our extremely low latency market data feeds, positions us well to serve the latency-sensitive trading community in Chicago to gain ultra-fast connectivity to trading venues and market data feeds."
"Telx is pleased to welcome the Algo Group to our Financial Business Exchange at our recently expanded 350 E. Cermak Rd. location in Chicago," said Michael Cattell, VP of Financial Markets for Telx. "Telx can now offer our customers yet another low latency, direct markmarket access solution through the Group's portfolio of trading platform solutions. This allows our financial markets customers to optimize the way they do business by giving them fast, cost-effective access to the trading venues and information they need."