ASX Launches Low Latency Network
February 20, 2013
Australian Securities Exchange will expand its global network connectivity. Orc technology to provide global market participants with algorithmic execution and market access in Canadia. Weeden announces new trading strategy. AQR Capital Management goes with Exegy to deliver low-latency market data to its trading and research systems. Rapid Addition leveraging IBM’s WebSphere MQ Low Latency (WMQ LLM) technology to produce an ultra-low latency, high performance product.
ASX: The Australian Securities Exchange will expand its global network connectivity through the launch of ASX Net Global.
The low latency network will connect to the ASX and ASX 24 trading platforms and to the full range of services located in the ASX Australian Liquidity Centre (ALC).
ASX Net Global links the ALC with the financial communities located in Asia (SGX Singapore), Europe (Interxion London) and North America (Equinix Chicago).
ASX Net Global is being produced by BT Radianz Venue Interconnect between financial centers.
Weeden & Co.: The full-service institutional broker announced the release of CloseIQ, along with major enhancements to its trading strategies. CloseIQ is a newly developed strategy that will intelligently take advantage of increased volume, tighter spreads, and lower volatility towards the end of the trading session.
Based on the size and liquidity characteristics of the security, CloseIQ will automatically choose the appropriate start time of the order while placing an optimally sized portion in the Closing Auction. For New York Stock exchange stocks, clients will have the option to take advantage of d-Quote order types, which allow for modifications or cancellations after the exchange cutoff time of 3:45 p.m. ET. The d-Quote feature in CloseIQ is the first strategy to combine an intelligent close algorithm with the features of d-Quote.
ORC: The provider of technology and services said that National Bank Financial (NBF) has expanded its use of Orc technology to provide global market participants with algorithmic execution and market access in the Canadian markets.
NBF will provide global customers with tools, algorithms and direct market access to trade Canadian equities, options and futures. NBF is a wholly owned subsidiary of the National Bank of Canada.
NBF will join Orc ExNet. Orc ExNet Private IP Network provides users direct access to additional markets without the need for exchange membership or extensive investments in technology.
AQR Capital Management: The global investment-management firm with more than $70 billion under management has selected Exegy to deliver low-latency market data to its trading and research systems. The deal includes new deployments of Exegy’s hardware-accelerated appliances to process foreign exchange, equity and futures market data in co-location datacenters initially in North America.
Rapid Addition: The provider of trading technology to buy- and sell-side financial institutions said is using IBM’s WebSphere MQ Low Latency (WMQ LLM) technology to increase performance of its tools.