Patsystems Taps Interactive 7Ticks to Launch XConnect Hub

Patsystems contracted with Interactive Data 7Ticks for the delivery of connectivity services for its new Patsystems XConnect hub in Chicago, the developer of derivatives trading systems announced today.

Interactive Data will provide Patsystems with ultra-low latency networking services, including connectivity to multiple derivatives exchanges from 7Ticks data center in Chicago. Patsystems will gain economies of scale, which in turn, will be utilized by customers of Patsystems XConnect.

The eleven derivatives markets groups that Patsystems will initially receive connectivity are as follows: Australian Securities Exchange (ASX), CME Group (CME), Eurex, Hong Kong Exchanges and Clearing Limited (HKEx), Intercontinental Exchange (ICE), Montreal Exchange, NYSE Liffe, Osaka Securities Exchange (OSE), Singapore Exchange (SGX), Tokyo Financial Exchange (TFX) and Tokyo Stock Exchange (TSE).

Patsystems is working with Interactive Data on the launch of Patsystems’ XConnect hub in Chicago, a fully hosted application service provider (ASP) offering, which marks the company’s fourth new hub this earlier this year. Earlier launches were in Singapore, Sydney and Hong Kong and an existing hub in Toyo. All Patsystems XConnect hubs will be connected to one another via Patsystems’ XLink technology.

In a statement, Sean Barry, Patsystems Americas managing director, said, Patsystems’ ASP-offering “can leverage multiple exchange gateways from one location. Each exchange gateway is fully resilient and is monitored by Interactive Data’s 24x7 real-time network monitoring system.”

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 the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio