Colt, Europe's leading information delivery platform, today announced that it has been selected to build and manage a hosted application infrastructure for Source, a specialist provider of exchange traded products (ETPs).
Following an extended period of consultation, Colt and Source have developed a solution which enables one of Europe's leading ETP providers to bring new enhancements and functionality to market, creating more opportunities for investors in this high growth sector.
Colt's managed infrastructure provides a resilient environment for Source to scale rapidly. It runs across two European data centres and features industry leading security and infrastructure capabilities. With a failsafe system approach and performance guarantees, Source can focus its attention on driving the growth of the ETP market in Europe.
Jaap Zuiderveld, Vice President, Colt Enterprise Services, said, "Both Colt and Source deliver enterprise class technology solutions to the European market in their respective areas of expertise. The environment we have designed in close consultation with them is a highly bespoke and resilient configuration of Colt's established and trusted services, which enables Source to scale rapidly with absolute confidence."
Ted Hood, Chief Executive Officer of Source, said, "We selected Colt because they demonstrated the agility and responsiveness to meet our evolving technical, operational and business needs. Source has developed unparalleled trading activity in its ETFs. Scaling the business demands an advanced and robust execution solution built on an extremely stable technology base, Colt has an outstanding track record in our sector delivering the services, infrastructure and integrated expertise we need to facilitate our rapid growth and leadership in the European ETF market."