MarketPrizm, a provider of market data and low latency trading infrastructure services, has continued to expand its regional footprint following the setup of fully-managed network and data services at the Australian Securities Exchange’s (ASX) Australian Liquidity Centre (ASXALC) in 2012.
“Since our launch, we have been seeing considerable demand from financial institutions looking to build their ultra-low latency trading capability in Australia, as well as their link-ups between ASX, Singapore, Hong Kong and Tokyo,” says Tanuja Randery, CEO of MarketPrizm. “Our customers have been able to cut their trading infrastructure costs by 15-20% by taking advantage of our mutualised service model, which shares costs for common services, such as market data feeds, among users.”
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MarketPrizm offers co-location, managed hosting and ultra-low latency connectivity to Australia’s trading venues, ASX and Chi-X Australia, as well as major markets in the United States, Europe and Asia-Pacific. Market data feeds are available in raw and normalised formats and fed directly to users within the exchanges’ data centres, or externally via MarketPrizm API or Raw format. Users do not need to purchase their own hardware to access data feeds.
David Raper, ASX’s General Manager, Trading Services said: “The ASX Australian Liquidity Centre is a vibrant community of financial markets participants and we are pleased that MarketPrizm and its clients are benefitting from the low-latency access, connectivity and the economies of scale offered by the centre.”
MarketPrizm supports recent efforts by the Australian Securities and Investments Commission (ASIC) to improve market safety, noting that financial firms should have more rigorous risk management and monitoring processes in place when using algorithms.