Thomson Reuters has unveiled the launch of its market data services suite at the Singapore Exchange’s (SGX) co-location data center, according to an SGX statement.
The move by Thomson Reuters represents an attempt to undercut the cost of ownership for local financial firms, whereby providing them with heightened performance and expanded content. The decision to choose SGX makes sense for a number of reasons, including the propensity of financial firms in Singapore opting to integrate with new markets and trading venues. Conversely, local financial firms operating in Singapore routinely suffer from small infrastructure footprints, which necessitates more cost-sensitive measures.
As a result of the new services suite by Thomson Reuters and more specifically its Elektron Managed Services offering, users will now have direct access to trading applications in the SGX Co-Location site as well as a comprehensive market data feed. market data to help power applications and inform their trading strategies.
2020 Global Market Outlook: How the “Known Unknowns” Can Affect CurrenciesGo to article >>
According to Paras Sidapara, Global Head of Managed Services, Financial & Risk, Thomson Reuters in a recent statement on the launch, “Elektron Managed Services gives customers the ability to scale their businesses rapidly and access low-latency data and services while lowering the typical costs of deploying and managing equivalent solutions in-house.”
“By offering real-time market data direct to customers inside the SGX data centre, they have access to the breadth of content needed to make informed trading decisions in a cost-effective and highly flexible way. The launch is a continuation of our efforts to support our customers’ growth strategies throughout the Asia Pacific region,” he added.
“We welcome the addition of Thomson Reuters new Elektron Real Time consolidated market data feed to the suite of offerings and services at SGX Co-Location data centre. The introduction of the service will enrich and diversify the global market data options available for clients who are co-located with SGX,” noted Tinku Gupta, Head of Market Data & Access at SGX in an accompanying statement.