After successfully launching its Hotspot FX matching engine in London last week, BATS Global Markets has set its sights across the Atlantic for another upgrade to its services. On the 9th of November the firm is set to migrate its New York matching engine to the Equinix NY5 data centre in Secaucus, New Jersey.
The new facility to which Hotspot will be relocating from its current site in Jersey City, New Jersey, is already home to a number of financial institutions. The move will result in better connectivity for a number of New York based financial institutions who are using the Equinix NY5 as their main data centre.
Meanwhile the company has already announced that after the launch of the new London matching engine last week, the single count trading volume transacted through it totaled $1.2bn. The company has already committed to provide its clients with free access to the venue until the end of 2015.
Commenting on the launch, the CEO of BATS Global Markets, Chris Concannon said, “we plan to permanently change the landscape of the FX market. We are only at the start of this campaign, and customers are already responding very well.”
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The project was announced in March this year, after the acquisition of Hotspot by BATS Global Markets.
“That we can launch an entirely new venue in such a short timeframe speaks to the incredible strength of our global technology team under Chris Isaacson, our global CIO. His teams continue to set the bar for operational excellence and efficiency in all the markets we touch,” Mr Concannon explained.
BATS cooperation with Equinix
The move is not a big surprise, since BATS has endorsed the services of Equinix in the past when it moved its Direct Edge Exchanges, EDGA and EDGX to the Equinix NY5 data centre in January this year. Subsequently, the company has also made a move with relocating the BATS BZX and BYX Exchanges, and BATS Options.
Equinix is already delivering its services to a number of buy-side and sell-side companies, exchanges and trading platforms.