Javelin OTC Derivatives Establishes Presence in Telx’s Chicago Data Center


Javelin OTC Derivatives Establishes Presence in Telx’s Chicago Data Center

http://low-latency.com/article/javelin-otc-derivatives-establishes-presence-telxs-chicago-data-center/?utm_source=weekly&utm_medium=email&utm_campaign=ll_13-06-20

Telx, a leading provider of global interconnectivity, cloud enablement services and datacenter solutions, today announced at SIFMA Tech 2013 that Javelin Capital Markets, an OTC derivatives execution platform, has leveraged Telx’s network & interconnection rich Cloud Connection Center, “CHI1” at 350 East Cermak Road, Chicago, Illinois, providing Javelin with access to Telx’s extensive Financial Services community. As a colocation and interconnection client in Telx’s strategically located data center in downtown Chicago, Javelin can now offer Telx’s financial community high-performance connectivity to derivatives execution platforms for Interest Rate Swaps and Credit Default Swaps. Javelin offers both anonymous electronic and voice-hybrid methodologies for trade execution.

Newly formed Swaps Execution Facilities (SEFs), that have emerged as aspects of Dodd-Frank become implemented, are incorporating their services in secure data center environments. Low-latency connectivity is a critical component for the OTC Derivatives market linking SEFs and Central Counterparty Clearing (CCPs). With CCPs being located in Chicago, the proximity of Telx’s CHI1 facility at 350 East Cermak provides financial customers with high-performance and flexible connectivity to Javelin as well as to other SEF engines from a single location.

“As aspects of Dodd-Frank become cemented in the financial community, the need to establish SEFs in secure environments is a crucial step for our eventual classification as a Swap Exchange Facility,” said Michael Black, MD of Infrastructure of Javelin. “Telx’s ability to provide us with access in their premier Chicago facility, and their proximity to the clearing venues, swaps execution facilities, and buy-side participants put us in a strong market-leading position to service current and future clients.”

“We are excited to have Javelin join the expanding Telx financial ecosystem in our CHI1 facility. Javelin’s secure exchange platform with a state of the art user interface is well positioned in the rapidly changing OTC Derivatives market,” said Shawn Kaplan, general manager of Financial Services for Telx. “In recent months we have seen an increasing number of trading systems turn to Telx and our CHI1 facility, most recently with the announcement of Sky Road joining Telx’s financial community. Javelin and other industry leading financial institutions at 350 East Cermak benefit by connecting with other financial institutions in the facility, which allows them to offer their full suite of services with flexible connectivity to current and future clients.”

Telx’s CHI1 facility, located in the South Loop of the Chicago Central Business District, provides customers with the financial eco-system at 350 Cermak, one of the leading financial eco-systems in the world. As the operators of the “Meet-Me-Room,” and one of the largest colocation providers at the CHI1 facility at 350 Cermak, Telx provides industry leading data center and connectivity services for the global financial community.

Attendees at SIFMA Tech 2013 in New York City can register to attend Telx’s grand opening event of its new flagship data center, NJR3 in Clifton, New Jersey on June 19, 2013 from 3:00 p.m. to 7:00 p.m. Round-trip transportation will be provided by Telx for all registered guests. The event will feature a keynote address by NFL Legend Phil Simms, along with public remarks Clifton Mayor James Anzaldi, State Senator Nia Gill, and Telx’s Executive Vice President of Engineering and Construction Michael Terlizzi. Cocktails and refreshments will be served, and tours of the new data center will be given.

 

Exchanges: AlgoSpan Service Coverage – ‘shortest path’ end-to-end trading infrastructure


Exchanges: AlgoSpan Service Coverage
 

 

The ‘shortest path’ end-to-end trading infrastructure and real-time market data services to major equity and derivative exchanges
AlgoSpan’s solutions are designed specifically to meet the demanding needs of the financial community, with a particular focus on providing infrastructure and market data for major equity and derivative exchanges.  AlgoSpan’s trading infrastructure (branded AlgoNet) underpins all customer solutions, including delivery of its multicast normalised and raw exchange data (branded AlgoData).

Exchange Coverage Map
Our service map shows which locations we can currently deliver industry leading latencies – we are continually expanding to new exchange locations
Click here to download our service map

London Fibre Footprint
AlgoSpan takes its ultra-low latency market access infrastructure directly to London’s trading community via its London fibre network
Click here to download our London Network map

Ultra Low Latency
Our ‘shortest path’ philosophy means we continually strive to deliver the lowest possible latencies across our Market Access Platform

London Exchange Locations

A-Location
B-Location
Exchanges
Latency*
Interxion, LON
London
Equinix, LD4
Slough
Chi-X Europe

BATS Europe
0.23 ms
Interxion, LON
London
LSE
London
London Stock Exchange
Borsa Italiana
0.01 ms
Interxion, LON
London
NYSE
ARCA, Euronext, Liffe
0.265 ms
European Exchange Locations

A-Location
B-Location
Exchanges
Latency*
Interxion, LON
London
NASDAQ OMX
Stockholm
NASDAQ OMX
11.045 ms
Interxion, LON
London
Equinix, FR2
Frankfurt
Xetra
Eurex
4.324 ms
Interxion, LON
London
Equinix, ZH4
Zurich
Six Swiss Exchange
6.88 ms
North American Exchange Locations

A-Location
B-Location
Exchanges
Latency*
Interxion, LON
London
Telx
New Jersey
NYSE ARCA
BATS US
33.1 ms

 

We have full control over our dedicated high-capacity network, taking the most direct fibre routes using the latest generation technology, with network management that eliminates any ‘invisible’ sources of latency. By combining our installed network with wholesale carrier links, as well as the ability to construct our own network to client locations, AlgoSpan has the unique capability to continually operate and control the best possible ‘shortest path’ infrastructure.

 

Telx secures new US connections to Brazil with Seaborn Networks


http://www.automatedtrader.net/news/automated-trading-news/142534/telx-secures-new-us-connections-to-brazil-with-seaborn-networks

First Published Friday, 19th April 2013 from Automated Trader : Automated Trading News

Seaborn Networks partners with Telx for first direct route between New York and Sao Paulo

New York – Telx, the provider of interconnectivity, cloud services and datacentre solutions, has announced that Seaborn Networks, the developer and operator of the first direct submarine cable between the New York metro area and Sao Paulo, Seabras-1, is establishing new gateways to Brazil in several of Telx’s NYC metro area facilities.

“Partnering with Telx in the New York metro area increases our ability to offer widespread access to our US – Brazil network from the major points of presence in New York and New Jersey when Seabras-1 enters service in Q1 of 2015,” said Larry Schwartz, CEO of Seaborn Networks. “Telx’s datacenters provide us with high performance connectivity to a broad selection of telecommunications carriers in major market locations.”

“Telx can offer a unique combination of accessibility, scalability and location for the long-term growth of Seaborn Networks’ US – Brazil submarine cable system,” said Eric Shepcaro, CEO of Telx. “We are proud to assist Seaborn Networks as Seabras-1 is deployed to provide the first direct route between New York and Sao Paulo.”

Highly Connected Datacenters and Fiber Networks — The NEW Trading Floors | Telx


Fiber networks and connected datacenters at 350 E Cermak in Chicago, 111 8th Avenue in New York City and in Clifton New Jersey. Financial markets. Low latency trading. Financial markets.

http://www.telx.com/blog/highly-connected-datacenters-and-fiber-networks-the-new-trading-floors/

Highly Connected Datacenters and Fiber Networks — The NEW Trading Floors

Thu, Feb 7, 2013 | Written by Shawn Kaplan

Shawn Kaplan photo

The first shares of company stock were bought and sold at meeting places on the streets in Manhattan with very few formal rules of engagement.  It wasn’t until 1792 when 24 brokers met under the buttonwood tree on Wall Street and agreed to form the first stock exchange in the U.S. For the nearly 200 years between 1792 and 1971, stock transactions were made with paper tickets on the floors of the exchanges where trades were often won or lost — based upon the speed or aggressiveness of the traders on the floor.

In 1971, NASDAQ became the first electronic exchange and began to swing the pendulum between human traders and machines. Today, no longer are trades handled by people on noisy exchange floors.  Instead, the new trading floors have migrated to chilled datacenter facilities without a trader in sight.  But these are not just “any” datacenter.
The majority of the world’s electronic matching engines operate on what’s known as price-time priority in a central limit order book.  This means that the first order to arrive at the best price will win that trade.  Compared to auction-style trading methods, price-time priority places a tremendous emphasis on getting your trade in quickly. Just a micro-second or less can determine whether your trade will get filled or whether you’ll pay more.

The systemic latency of the leading high-frequency trading applications can be as little as a handful of microseconds achieved through high performance computing techniques such as hardware acceleration, kernel bypass, and massive parallelization.  In relative terms, the speed of light travels only about 200 meters per microsecond…a distance easily traversed inside most datacenters, let alone between buildings or even states.

When the SEC decentralized the equity markets through Reg NMS, they created a framework which has now led us to over a half-dozen equity venues and nearly 50 dark pools and Alternative Trading Systems (ATS).  A far cry from the centralized market located at 18 Broad Street.  The futures markets, while not quite as fragmented as the equities space, adds a half-dozen venues and the new Swaps Execution Facilities, which could add several dozen on top off it all…and keep in mind we’re just talking about the U.S. markets.

So where do today’s electronic traders come to connect with each other?  In the highly connected datacenters such as 350 E Cermak in Chicago, 111 8th Avenue in New York City, or in the exchange datacenters in less prominent locations such as Mahwah, Secaucus, Carteret, Weehawken and Clifton, NJ and Aurora, IL.  Ultimately, it is in these discreet locations or in the fiber hung on the poles, or the microwave signals whizzing above our heads, which has replaced the open out-cry markets so many still associate with the financial markets.

No longer do we have aggressive traders on the floors of the exchanges, we now have highly educated technologists trading based on the nanoseconds lost or gained by the proximity of their trading engine to the matching engines, the routes taken by their fiber, or the location of their systems inside the datacenter.

 

 

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