BSO, the global Ethernet network, cloud and hosting provider, was selected by New York-based Vela Trading Technologies to provide clients of its Direct Market Access (DMA) platform, Object Trading, with low-latency connectivity and reliable access to the world’s biggest exchanges..
The deal provides Vela with reliable and diverse access points to its brokerage and trading services spanning across several financial districts including ICE, CME and Eurex.
BSO’s global low-latency network was the primary driver behind the decision, as it enables the company’s clients to access its services regardless of where they are situated. This is particularly important to high speed and algorithmic trading clients, who have a single point of access to international trading opportunities.
FBS Receives Best Forex Broker Europe 2019 Award by The European MagazineGo to article >>
Object Trading’s Direct Market Access (DMA) Platform, which was acquired by Vela in July 2017, features a single gateway for normalised market data and order execution, and carries over $150 billion in notional value traded daily. This acquisition was part of Vela’s strategic plan to grow its trading technology portfolio. The company announced in June its acquisition of futures and options trading and analytics provider OptionsCity.
On its part, the partnership further validates BSO’s offering of delivering specialist intra-region connectivity across its eight data centres to the international financial community. The direct connectivity allows traders and professional service specialists to gain a competitive advantage, quickly sending and receiving large volumes of data without the need to have a presence at the exchange. The offering also enables investors to take advantage of the arbitrage opportunities between different markets.
Gerry Turner, Global Head of PaaS at Vela, said: “Vela strives to offer our clients comprehensive global market coverage and low-latency technology solutions that support multi-asset classes. Having a dependable global platform is key to serving our clients’ increasing appetite for fully managed DMA services. This is why, in order to scale in line with the demand in our platform, we needed a proven provider like BSO that is reliable and secure.”
Fraser Bell, Chief Revenue Officer (CRO) at BSO, added: “To facilitate ever more complex algo trading strategies, interest in DMA platforms continues to hit new heights. Through BSO helping to manage the DMA platform globally, Vela’s sell and buy-side clients can continue to focus on developing new trading models to generate greater returns.”