The agreement means AlgoSpan, its fibre
optic network, can add access to the Chicago Mercantile
Exchange and Intercontinental Exchange to its low latency
trading and connectivity and proximity hosting community.
Telx’s FBX customers can use
AlgoSpan’s 'shortest path’ access to
other major liquidity venues across Europe and the US, while
Algo Technologies can offer its low latency market data feeds
to trading firms in Chicago.
chief executive of Algo Group, told FOW: "Telx’s
FBX can offer trading firms a competitive advantage through low
latency network connectivity and what we believe is the best
low latency data service on the market today."
A source close
to the situation said: "The main significance is that it marks
a coming together, via Algo Span, of a cash equities and
derivatives colocation service. At present the HFT and algo
trading communities tend to be siloed into equities or
derivatives. This development marks the beginning of a service
provision which joins these two markets together over the
AlgoSpan fibre optic network, with a fully distributed data