November 03, 2010

Telx announced that Algo Group the U.K.-based provider of trading technology solutions, has joined its Financial Business Exchange (FBX), and located its electronic trading platform solutions in Telx’s 350 East Cermak Road data center facility in Chicago.

This agreement allows AlgoSpan, the fiber optic connectivity platform offered by the Algo Group, to add access to the Chicaog Mercantile Exchange (CME) and the Intercontinental Exchange (ICE) to its ultra low-latency trading connectivity and proximity hosting community. Telx’s FBX customers can also leverage AlgoSpan’s ‘shortest path’ access to other major liquidity venues across Europe and the United States.

With Telx, an interconnection and collocation provider in strategic North American markets, Algo Technologies will be able to offer its low latency U.S. and European market data feeds to trading firms within this strategically important location.

The Algo Group evaluated leading data centers in the Chicago area and ultimately selected Telx based on the strategic location of the 350 E. Cermak Road facility, as well as its connection density and overall security and reliability.

“By participating in the Telx FBX, the Algo Group can offer trading firms a competitive advantage through low latency network connectivity and what we believe is the best, low latency data service on the market today,” commented Hirander Misra, chief executive of Algo Technologies and co-founding director of AlgoSpan. “Telx’s extensive financial markets customer base, combined with our super-fast connectivity and our extremely low latency market data feeds, positions us well to serve the latency-sensitive trading community in Chicago to gain ultra-fast connectivity to trading venues and market data feeds.”

Michael Catell, VP of financial markets, stated: “Telx can now offer our customers yet another low latency, direct market access solution through the Group’s portfolio of trading platform solutions. This allows our financial markets customers to optimize the way they do business by giving them fast, cost-effective access to the trading venues and information they need.”

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in ...