Financial services provider CMC Markets Stockbroking has signed a deal with the Australian Securities Exchange (ASX) to move into its Sydney data centre, the Australian Liquidity Centre (ALC).
According to CMC Markets Stockbroking Australia and New Zealand's head of IT, Michael Connaghan, there was “growth opportunity” for the business by being part of the financial community at ALC.
“As a business we recognise that reliable access to trading data and venues is a key driver for our clients,” he said in a statement.
“As we expand our online trading platform to offer more products, such as mobile apps for frequent traders, our partnership with the ASX will ensure that all our clients benefit through improved performance and reliability.”
The company will also gain access to a networking solution called ASX Net Global. Rolled out in February 2013, it is designed to improve latency when international customers trade on the local stock exchange.
ASX Net Global links the ALC in Sydney with SGX Singapore, Interxion London and Equinix Chicago. The service also supports ALC customers who want to connect with these sites in Asia, the United Kingdom and the United States.
The $32 million ALC data centre opened for equity trading in Gore Hill during February 2012. It has allowed the ASX to expand its co-location hosting services for the financial industry.
There are currently more than 80 customers using the facility including global investment banks, domestic Australian brokers, proprietary firms, hedge funds, data vendors and telecommunication providers.
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