Davnet tackles co-location in the US

IP-based carrier and smart building specialist Davnet has picked up a contract to provide co-location facilities and services to support an online options trading system being established in the US by thinkorswim Inc. Under the terms of the deal Davnet will provide co-location facilities in Chicago and six point-to-point connections through North America.

Thinkorswim's screen-based trading system is to be launched in the US this month, after which the company will join forces with Davnet and the O2-e venture group of the National Australia Bank to launch it in Europe, Hong Kong and Australia. Although the system is initially able to carry out trades on the five US options exchanges, it will be expanded to allow users to trade in any electronic marketplace in the world by the end of this year, a spokesman claimed.

"Options trading is a highly skilled endeavour where investors need to move quickly and efficiently to take advantage of market opportunities," noted Jim Shirah, executive vice president of Davnet.

"By using thinkorswim's Java-driven trading system individual investors can access the same powerful front end information and tools used by professional option traders and institutional money managers right on their own PC screens."

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