Equinix, Inc. (EQIX), the global interconnection and data center company, today announced that Portware LLC, the first and only global provider of multi-asset trade automation solutions powered by artificial intelligence, has selected Equinix's New York International Business Exchange™ (IBX®) data center (NY5) to provide capacity and scalability support for its leading trading platform.
The New York data center deployment and a planned expansion into an Equinix data center in Chicago (CH1) provide Portware with an enhanced disaster recovery strategy, capacity and scalability support for its customers, as well as the ability to expand into Europe and Asia.
Portware enables trading desks across the world to navigate a highly complex execution landscape. Portware clients include tier-1 institutional asset managers, hedge funds, pension funds and broker dealers who manage more than $6 trillion of trading volume. For this reason, Equinix's globally dispersed network of data centers, capacity and scalability were imperative to Portware when choosing a data center provider.
As Portware operates its own cloud, a key component to meeting its customer requirements is Equinix's ability to handle critical infrastructure on the cloud. Through Equinix's secure cross connects, Portware can ensure its customers benefit from low latency, extra reliability and outstanding network performance for the cloud-based applications and mission-critical transactions vital to their success.
Upon expanding to Equinix's Chicago data center, Portware will have expanded disaster recovery capabilities in case either New York or Chicago becomes unavailable.
Vincent Aniello, global head of infrastructure, Portware:
"The efficiency and cost benefits of deploying in the cloud are a main reason why the overwhelming majority of new Portware clients, as well as several existing clients, have chosen our cloud deployment model over the past 18 months. Portware continues to invest to ensure our clients enjoy optimal performance, reliability and flexibility in any Portware deployment. Equinix serves as a trusted partner that helps us deliver a globally consistent level of quality and service, and ensure we continue to offer our clients the most powerful, globally available and innovative trading solution on the market."
Stewart Orrell, managing director, global financtor, global financial services, Equinix:
"Our relationship with Portware speaks to the growing trend of financial services companies connecting to, and asset managers' increased comfort level with leveraging the cloud. By deploying in our data centers, Portware joins hundreds of other financial firms already deployed among our extensive community of networks and cloud providers, that all benefit from the rich interconnectivity opportunities on Platform Equinix."
Sang Lee, managing partner, Aite Group:
"Regulatory uncertainty, dynamic market conditions and the proliferation of trading venues and connectivity points are placing increased cost pressure on financial institutions, driving the need for robust solutions that don't break the bank. As electronic trading volumes increase and firms deploy more sophisticated, multi-asset trading strategies, they need scalable, resilient and high-performance trading platforms to accelerate time-to-market and maintain their competitive edge. Buy- and sell-side firms are now embracing managed trading services, cloud services and premier co-location centers to control costs and meet the most diverse trading needs. We expect to see a continued increase in the movement toward managed trading and cloud services throughout 2015 as firms look to expand the flexibility, speed and depth of their trading systems while keeping a firm handle on costs."