Specialist market infrastructure provider AlgoSpan has announced that The Kyte Group has gone live with the low latency exchange market access platform, “AlgoNet’. AlgoNet underpins all customer solutions, including delivery of its multicast, normalized and raw exchange data (branded AlgoData).
The Kyte Group and their clients can now access the AlgoNet low latency European exchange network, including co-location at all major venues.
The Kyte Group Limited is an independent futures commission merchant which provides clearing and settlement services to professional traders who transact business on the world’s leading exchanges.
The company offers clearing services, risk management, financing and direct market access to proprietary traders, brokers, automated/algorithmic trading systems, market makers and hedge funds. Their business surrounds the provision of comprehensive market access to exchange-listed, traditional and alternative investment instruments including financial futures and options, cash stocks, cash bonds, warrants, foreign exchange and commodity derivatives. KGL is a leading agency clearer on LIFFE, Eurex, CME and ICE. The company is a majority owned subsidiary of GFI Ltd.
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With the growing demand from high frequency trading firms and hedge funds to get the lowest latency possible at the most competitive prices, The Kyte Group looks to leverage off the AlgoSpan infrastructure to help in growing their Direct Market Access (DMA) business.
Dr Rami Habib, co-founder and Director of AlgoSpan explained, “Kyte Group is one of the leading integrated clearing, broking and DMA service providers and AlgoSpan is committed to providing the best possible infrastructure to them and their clients. AlgoSpan understands the need for fast exchange access and connectivity.”
Also offered over the AlgoSpan infrastructure is the market leading low latency normalized market data (AlgoData), for all the major European Exchange/MTF trading venues. “Good quality, low latency market data is critical for any trader that is looking for best execution with the ability to route orders to the most effective venue. AlgoSpan have built both the infrastructure and the low latency normalisation to make this readily accessible” says Dr Habib.
AlgoSpan is a technology provider which supplies end-to-end trading infrastructure and real-time market data services to financial services firms operating low latency / high frequency trading strategies, with a view to bringing direct improvements to bottom-line trading performance, an example of which is RadioFeed as reported by Forex Magnates in mid 2012.
Peter Green, CEO of The Kyte Group Limited said, “Kyte Group is delighted to add AlgoSpan as one of our key infrastructure providers. We have been impressed with the quality of service and the technology on offer and we are pleased to be using AlgoSpan internally as well as offering access to the infrastructure to our clients.”