Interxion Holding (NYSE: INXN), a leading European provider of carrier-neutral colocation data centre services, today announced that London Metal Exchange (LME), the world's premier non-ferrous metals market, is opening an access point to their electronic trading platform, LMEselect, at Interxion's City of London data centre.
The access point will also allow access to LMElive, the exchange's real-time price and data application.
By colocating within the same data centre as the exchange, members of the LME will be able to take advantage of low-latency access to the LME as well as reduced complexity and connectivity costs of trading on the electronic trading platform. In addition, members can benefit from access to a range of other liquidity venues, real-time market data feeds, and a diverse ecosystem of leading financial service providers.
The LME is a highly liquid market and in 2010 achieved volumes of 120.3 million lots, equivalent to $11.6 trillion annually and $46 billion on an average business day. Based in the heart of The City of London, the LME is a global market with an international membership, with more than 95% of its business coming from overseas.
Michael Warren, London Metal Exchange CTO, commented: "We see increasing demand for fast access from new and existing members of the Exchange. The access point at Interxion in the City of London will ensure that all our members will be able to benefit from cost-effective, low-latency access to the LME".
"We're extremely pleased to welcome the LME to our Financial Hub ecosystem and to be able to provide proximity hosting services to its current and future members," said Anthony Foy, Group Managing Director of Interxion. "This service will allow investment and trading firms to benefit from faster and more cost-effective access to this strategically important trading venue. Given the extensive number of derivatives markets participants that are already located at Interxion, we believe LME will provide an interesting trading opportunity for many of our customers".
Interxion also offers colocation to liquidity venues such as Burgundy, Equiduct, Quote MTF, Plus Markets and the Nordic Derivatives Exchange, and proximity hosting to NYSE Euronext, Bolsa de Madrid and SIX Swiss Exchange.