AboveNet, a provider of high bandwidth connectivity services for business and carriers, has announced an agreement with multilateral trading facility Chi-X Europe. This agreement is expected to provide financial institutions with ultra-low latency connectivity and proximity hosting for accessing Chi-X Europe’s market data and trading platform services.
AboveNet has located its wavelength infrastructure within a key London data center close to Chi-X Europe’s trading engine. This proximity-hosting environment enables sub-millisecond latencies when connecting to the Chi-X Europe platform via a single connection.
By using AboveNet’s fiber-based wavelength infrastructure for core connectivity, financial institutions are expected to have a secure, high capacity network that is well equipped to support the volume of high speed trades executed per second.
Hirander Misra, COO of Chi-X Europe, said: Through our streamlined business model, institutional investors are able to trade a wide range of European equities and achieve low-cost, high-speed trade execution, offering opportunities for price improvement. We are pleased to welcome AboveNet connectivity for our growing roster of Chi-X users.
John Donaldson, managing director at AboveNet, said: “The durability and capacity of our network will offer clients near-zero latency and the highest levels of security and reliability. We are well positioned to handle the volume of data Chi-X Europe is currently generating and our fully scalable capacity can readily anticipate Chi-X Europe’s future growth.”
