KVH Co. Ltd and MarketPrizm today announced the launch of the financial services extranet, PrizmNet, in Asia. Delivered in cooperation with European-based parent company, Colt, this new service will connect providers of financial content - including market data, research and other services - to capital markets firms.
A dedicated private network with deterministic low latency will guarantee reliable, consistent, and transparent content delivery. Providers already signed up to distribute content via Colt’s extranet service include Japan Exchange Group (JPX), NLX, Nasdaq, and Aquis Exchange.
Capital markets firms will be able to connect to new markets and clients quicker, which is particularly important in an environment where trading opportunities are short lived. In today's fragmented ecosystem, firms struggle to connect fast enough to an ever-growing number of financial content providers needed to support trading connections, middle office and post-trade activities. This challenge is compounded by pressures faced from new market entrants, budget constraints and regulation.
The Colt PrizmNet service has been designed in consultation with over 20 investment banks, asset managers and brokers. It has four key differentiating features:
Guaranteed deterministic latency for the delivery of content to the consumer
Near real-time network performance monitoring
Self-service portal for easy access to content and services
Superior business focused SLAs (Service Level Agreement)
PrizmNet combines the existing network and data center assets of Colt, KVH and MarketPrizm as well as their collective knowledge and experience in the capital markets industry. PrizmNet is available with full functionality to all market participants in Europe today, while Asia and the US will have phased deployments between Q2 and Q4 as additional service features are added. Full functionality in all regions will be available by the end of 2015.
“Since creating our dedicated capital markets vertical last year, we have been talking to our customers to understand their expectations of an extranet service,” explains John Loveland, Vice President of Capital Markets at Colt and Director at MarketPrizm. “Accessing new markets quickly, ensuring reliable, transparent and stable connections to existing markets, and the flexibility to change whenever trading strategy dictates, are all high priorities. Colt PrizmNet will help address the need to speed up access to new markets. This service has been designed to help mitigate risk and deliver the critical information that underpins the execution of millions of trades daily.”
“As a trusted infrastructure provider for the capital markets ecosystem across Asia, we are very excited to be working with MarketPrizm and Colt to deliver this innovative service in Asia,” said Machifumi Kashiwagi, Vice President of Product Management at KVH. “PrizmNet fills a gap in the market of enabling quick connections between market participants and provides strong service visibility through advanced monitoring and an online portal.”
Colt is currently in active discussions with over 50 providers of content for Colt Prizmnet. Current partners include JPX and Aquis Exchange:
“The increasing interest in the Asian markets has created a growing demand for access to JPX products,” said Ryusuke Yokoyama, Executive Officer at Tokyo Stock Exchange, Inc. “With the broad reach of the network, the fast connections to major markets and the ability to monitor those connections in real time, JPX welcomes the launch of Colt PrizmNet to help market participants in Asia, Europe and the US quickly and easily access the services we provide.”