MarketPrizm Announces The Launch of PrizmNet Asia in Q1 2012
MarketPrizm, a leading provider of market data and trading infrastructure services announced February 13 it has started the deployment of the first Asian segments of its global ultra low latency data distribution infrastructure. In Q1, 2012 customers will be able to use MarketPrizm’s ultra low latency network, PrizmNet Asia, to connect to exchanges in Japan, Singapore and Australia and receive normalized market data via MarketPrizm’s MPAPI in any one of these locations.
MarketPrizm’s local and cross-border networks, coupled with its extensive co-location and hosting services at the Exchange or proximity facilities, enables onshore and offshore financial institutions to deploy their trading infrastructure as close to the market as possible. MarketPrizm’s ethos is to provide customers with solutions that meet the requirements for low latency, speed to market, low cost without compromising on quality and state of the art technology.
MarketPrizm is building on its extensive experience and deployment in Europe to bring these same benefits to Asia with the first deployments at the TSE, OSE, Chi-X Japan, ASX, Chi-X Australia and SGX. Phase 2 markets will include India and Hong Kong. In each market MarketPrizm will offer ultra low latency market data feeds and order entry to the main trading venues, plus co-location, hosting and remote management services.
Customers will be able to source data from both the local markets and international markets into their co-located facilities via PrizmNet Asia, which is developed in partnership with KVH Co. All data can be provided in the MarketPrizm normalized form, reducing further the costs of deployment into multiple markets.
Tanuja Randery, Chief Executive Officer, MarketPrizm said, “Market structural change is arriving in Asia. Japan and India have had fragmentation for a while. Australia has just implemented its own competitive environment with the launch of Chi-X Australia.
The exchanges are moving to faster technology and customers demand solutions that will provide them with best execution and enable them to access multiple markets easily. Our global client base is already starting to implement trading systems in these markets and we will expand PrizmNet into India, Hong Kong and Korea to enable us to continue to meet the growing needs of both our existing clients and new regionally based clients”.