Colt, a leading information delivery platform provider, has announced that CMC Markets has assimilated Colt’s data services center in a bid to improve its FX liquidity venues, according to a Colt company statement.
UK-based CMC Markets is a forex and derivatives dealer with locations across thirteen countries, ranging from Canada to Australia. Its robust suite of trading platforms allows for a versatile array of FX options for users, ultimately necessitating the need for a comprehensive delivery solutions system. As one of Europe’s leading mainstays in information delivery, Colt represents a logical choice for what figures to be a twelve-year commitment between the two companies, per the details of the agreement.
CMC Markets Gains Access to PrizmNet for Its Asset Needs
Colt’s primary role will be the provision of FX liquidity via its low-latency PrizmNet service – forged through a partnership between MarketPrizm and Colt back in 2012. The PrizmNet service is compatible across multiple-asset classes, namely FX and allows for latency-controlled market data and order entry infrastructure for market venues, firms and clients.
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According to Tom Faulkner, Head of IT Production at CMC Markets, in a statement on the selection of Colt, “At CMC Markets, technology really is at the heart of everything we do. We turn over billions of pounds globally each day on our feature-rich Next Generation trading platform, so it’s imperative that we have the most cutting-edge technology in place to ensure business continuity, data security and performance. Colt’s combined Data Center and Network Services offering provided us with the reliability and operational efficiency that we needed, as well as the flexibility to support the future growth of our business. This is the start of a long-term partnership with Colt and we are looking forward to building upon this new relationship to deliver even more innovation in the years ahead.”
Growing Technology, Operations Necessitated Integrated Data Center
Indeed, CMC Markets is no stranger to FX and derivatives trading, being involved in the latter for nearly 25 years. The company has sought to improve on its image with several mobile and FX platform initiatives, largely succeeding in recent years to carve out a niche in the industry across several locales, especially New Zealand. However, as the company has been expanding and integrating new technologies such as its Next Generation trading platform, the acute need for a colocation provider capable of governing costs and data efficiencies became a primary goal, now satisfied for the foreseeable future with Colt.
“Just like our cutting-edge data center technology, CMC Markets’ Next Generation trading platform is built to demanding specifications, using the latest technologies to meet their clients’ needs, such as high speed trade execution. The company had a need for flexible data storage requirements, so it was clear that there was a natural alignment with our modular and flexible data centers. By putting flexibility at the heart of our data center solutions, companies like CMC Markets are able to scale their data center requirements in line with the future business needs, regardless of whether these are known or unanticipated,” added Ian Dixon, Vice President and Operations at Colt Data Centre Services, in a subsequent statement on the partnership between Colt and CMC Markets.