AlgoData has recently been selected by one of the largest tier one investment banks, following extensive trials with a number of market data providers and we now want to offer the same trial opportunity to other trading firms through the AlgoLab facility.
London, United Kingdom (PRWEB UK) 23 September 2011
AlgoSpan Ltd, a provider of high performance low latency trading technology solutions, has launched AlgoLab at Interxion’s uniquely located City of London data centre, offering proof of concept testing for its AlgoData multicast normalised and raw exchange market data feed – cited by clients as the best low latency data service on the market.
According to Robert Bicket, Chief Executive at AlgoSpan, the initiative enables firms looking to improve their trading performance – including many of the smaller high-frequency trading specialists – to performance test AlgoData market data technology. If they see a latency improvement over the initial 28 day period – and Bicket says they usually do – and believe further analysis work is warranted, AlgoSpan will extend facilities to enable further testing.
“AlgoData has recently been selected by one of the largest tier one investment banks, following extensive trials with a number of market data providers and we now want to offer the same trial opportunity to other trading firms through the AlgoLab facility” says Robert.
AlgoLab will initially offer London Stock Exchange (LSE) raw and normalised market data from Interxion’s City of London data centre. AlgoSpan’s trading technology hub offering low latency ‘shortest path’ connectivity and market data for a range of equity and derivative exchanges. AlgoData proof of concept facilities are also available to firms hosted in the LSE data centre colocation areas (ensuring the lowest possible latency).
Greg McCulloch, Interxion UK Managing Director, commented, “Interxion hosts the access point or trading engine of nine different exchanges and MTF’s offering a wide choice of low-latency connectivity to all London-based liquidity venues. This makes our London data centre an ideal choice for the collection and redistribution of low latency market data. This announcement further reflects the strength of the community of market participants and specialist service providers and ISV’s colocated within our data centre. The AlgoSpan test lab allows us to offer our customers a test facility where they can performance test AlgoData market data technology and ultimately drive latency improvements.”
AlgoData is in-house developed and optimised by trading experts to provide the fastest and best quality data service available on the market – ideal for customers that care about speed and want to leverage the next generation in market data infrastructure. Data is captured directly from the exchange and disseminated to the client via Radio Feed™ protocol over AlgoSpan’s own ‘shortest path’ optical fibre infrastructure – one of the fastest on the market, designed and optimised for high frequency trading.
AlgoSpan plans to add further markets and data centre locations for a more comprehensive proof of concept later in the year, and intends to expand the concept to its ultra-low latency exchange connectivity platform early next year.
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AlgoSpan provides end-to-end trading infrastructure (branded AlgoNet) and real-time market data (branded AlgoData) services to financial services firms operating low latency / high frequency trading strategies. Its ‘shortest path’ vision underpins trading solutions, designed to reduce execution times to major equity and derivative exchanges. For more information please visit http://www.algospan.com
AlgoData is available as a fully distributed service in raw or normalised form at major exchange colocation centres ensuring the lowest possible latency. This compares to most legacy vendor solutions which routes data from each exchange to a central processing point to standardise it, which adds huge latency. AlgoData gives clients the ability to colocate and contract with AlgoSpan to take data from major equity and derivative market s – either at the trading venue data centre (ensuring the lowest possible latency), or in any location that the client’s trading and market data engines are located.
Interxion is a leading provider of carrier-neutral colocation data centre services in Europe, serving over 1,200 customers through 28 data centres in 11 European countries. Interxion’s uniformly designed, energy-efficient data centres offer customers extensive security and uptime for their mission-critical applications. With connectivity provided by 350 carriers and ISPs and 20 European Internet exchanges across its footprint, Interxion has created content and connectivity hubs that foster growing customer communities of interest. For more information please visit http://www.interxion.com