19 July 2018
Register today

Colt and Koscom to provide ultra-low-latency connectivity between Korea and global markets

29 July 2016  |  3149 views  |  0 Source: Colt and Koscom

Colt and Koscom, the leading financial IT provider in Korea founded by Korea’s Ministry of Finance and the Korea Stock Exchange, has announced a joint agreement to form a global securities network partnership that will provide ultra-low-latency connectivity between capital markets participants in Korea and the world’s major stock and derivatives exchanges.

As part of this collaboration, Koscom will use Colt’s extensive, high-quality and low-latency global network service infrastructure to complement its own exclusive financial network in Korea (“Stock-Net”). Both companies stand to benefit even further from this multi-year agreement by leveraging each other’s local and global network and exchange colocation footprints, as well as the respective sales and service operation resources in Korea and around the globe.

This arrangement will also create further opportunities to develop integrated financial IT and market data solutions for Korean capital markets in the future, including Colt Prizmnet, the financial extranet developed by Colt, and Koscom’s securities brokerage hub (“STP-Hub”).

The partnership is underpinned by technical and commercial support for mission-critical applications in multiple languages including English, Japanese and Korean. This will allow local brokerages and investors from foreign institutions to benefit from more reliable and cost-effective connectivity when trading at Korea Stock Exchange (KRX), one of the world’s top exchanges in terms of derivatives trading volume.

Elaborating on the agreement, Masato Hoshino, Vice President and Head of Product Management at Colt, said: “This partnership marks another important milestone for Colt and Koscom. It highlights the close working relationship we’ve cultivated between our organizations since the launch of the Busan Proximity Data Center in 2012. Furthermore, it opens an even wider path to future mutual growth for us, and more importantly, for investors looking to tap into the wealth of opportunities in the Korean capital markets ecosystem, especially considering that Colt is the only company to have established such an agreement with Koscom.”

Mr. Jae Wook Eom, Koscom’s Sales Division Head, said: “This global securities network partnership will enable Korean domestic securities and futures companies to leverage high-quality and low-cost infrastructure for offering their financial services to exchanges around the globe, including Japan, Southeast Asia, the U.S., and Europe. At the same time, international investors will also be able to reduce their costs when launching business initiatives in Korea. This will key in accelerating the globalization of Korean capital markets.”

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit https://secure.vasco.comVisit info.nice.com

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
11346 views comments | 5 tweets | 7 linkedin
Metro Bank opens developer portalMetro Bank opens developer portal
9974 views comments | 5 tweets | 14 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
9601 views comments | 6 tweets | 15 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
9096 views 19 comments | 14 tweets | 30 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
8620 views comments | 9 tweets | 17 linkedin

Featured job

Competitive base, double ote, benefits
New York, Boston, Chicago, Philadelphia, USA

Find your next job