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April 14, 2015

Extranet bridges gap between content providers & Capital Market firms

Colt PrizmNet extranet has been designed in consultation with over 20 investment banks, asset managers and brokers.

By Ellie Burns

The Colt PrizmNet extranet, connecting providers of financial content to Capital Market firms, has been unveiled today by Colt.

The dedicated private network has a deterministic low latency and offers reliable, consistent, and transparent financial content delivery.

Designed in consultation with over 20 investment banks, asset managers and brokers, the extranet has business focused SLAs, a self-service portal for easy access to content and services, and near real time network performance monitoring.

The financial services extranet boasts NLX, Nasdaq, Japan Exchange Group (JPX) and Aquis Exchange among those who have already signed up to distribute content.

The aim of the new extranet is to enable Capital Markets firms to connect to new markets and clients quicker, which is particularly important in an environment where trading opportunities are short lived.

This is vital, as today’s fragmented ecosystem firms struggle to connect fast enough to an ever-growing number of financial content providers needed to support trading connections, middle office and post-trade activities.

This challenge is compounded by pressures faced from new market entrants, budget constraints and regulation.

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"Since creating our dedicated Capital Markets vertical last year, we have been talking to our customers to understand their expectations of an extranet service," explains John Loveland, VP Capital Markets at Colt.

"Accessing new markets quickly, ensuring reliable, transparent and stable connections to existing markets, and the flexibility to change whenever trading strategy dictates, are all high priorities. Colt PrizmNet will help address the need to speed up access to new markets. This service has been designed to help mitigate risk and deliver the critical information that underpins the execution of millions of trades daily."

Colt is currently in active discussions with over 50 providers of content for Colt Prizmnet. Current partners include JPX and Aquis Exchange:

"The increasing interest in the Asian markets has created a growing demand for access to JPX products," says Ryusuke Yokoyama, Executive Officer at Tokyo Stock Exchange, Inc. "With the broad reach of the network, the fast connections to major markets and the ability to monitor those connections in real time, JPX welcomes the launch of Colt PrizmNet to help market participants in Asia, Europe and the US quickly and easily access the services we provide."

The Colt PrizmNet service combines existing network and data centre assets as well as the financial services industry and low latency network experience of Colt, KVH and MarketPrizm.

PrizmNet is available for all market participants across Europe today with similar services to follow across Asian markets and in key North American cities throughout 2015. Full functionality in all regions will be available by the end of 2015.

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