ASX welcomes CMC Markets Stockbroking to The Australian Liquidity Centre
The ALC is a purpose-built, state-of-the-art data centre designed to meet the demands of the financial market community. There are currently more than 80 ALC customers that include global investment banks, domestic Australian brokers, global and domestic proprietary firms, hedge funds, market makers as well as data vendors, service providers, and major international and domestic telecommunication providers. ASX’s Technical Services facilitates the technology and connectivity requirements for a broad range of organizations who want to be an integral part of the expanding financial markets community.
David Raper, ASX General Manager, Trading Services, said: “ASX welcomes CMC Markets Stockbroking to the growing ecosystem for financial services firms at the ASX ALC. The ALC is the premier financial markets community and we believe CMC Markets Stockbroking and its clients will benefit from co-locating with both ASX and other vendors within the ALC. Through our consultative approach of working together, we developed a solution which is helping to reduce cost and complexity while ensuring CMC Markets Stockbroking remains agile in their market.”
Michael Connaghan, CMC Markets, Head of IT, Australia and New Zealand, said: “The APAC region is a key area of growth for CMC Markets and we believe there is a tremendous growth opportunity for our 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. By locating our platform in the ALC, we are in the best position to take advantage of these technologies and pass on the benefits to our clients.
“This is a large investment in our technology and online trading platform and demonstrates CMC Markets Stockbroking’s commitment to invest in, and grow, our stockbroking business in Australia. As we expand our platform to offer more products such as mobile apps and additional content, functionality and services for frequent traders, our partnership with the ASX will ensure that all our clients will benefit through improved performance and reliability.”