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Press Release -- November 3rd, 2010
Source: Telx Group
Tags: Colocation, Exchange, Low Latency

The Algo Group Joins Telx Financial Business Exchange

Trading Technology Group Selects Colocation Services Within Telx’s 350 East Cermak Road Data Center to Deliver Ultra-Low Latency Trading Connectivity to CME and ICE

New York, NY (November 3, 2010)Telx®, a leading interconnection and colocation provider in strategic North American markets, today announced that the Algo Group, the U.K.-based provider of next-generation trading technology solutions, has joined its Financial Business Exchange (FBX) and located its electronic trading platform solutions in Telx’s 350 East Cermak Road data center facility in Chicago.

The agreement has enabled AlgoSpan, the fiber optic connectivity platform offered by the Algo Group, to add access to the Chicago Mercantile Exchange (CME), the world's largest and most diverse derivatives marketplace, and the Intercontinental Exchange (ICE) to its ultra-low latency trading connectivity and proximity hosting community. Telx’s FBX customers can also leverage AlgoSpan’s ‘shortest path’ access to other major liquidity venues across Europe and the United States.  In addition, it will allow Algo Technologies to offer its low latency U.S. and European market data feeds to trading firms within this strategically important location.  By selecting Telx’s colocation services, the Algo Group has extended its direct market access data infrastructure, ensuring that its customers have the highest-quality, lowest-latency trading experience.

The Algo Group evaluated leading data center providers in the Chicago area and ultimately selected Telx based on the strategic location of the 350 E. Cermak Road facility, as well as its connection density and overall security and reliability. “By participating in the Telx FBX, the Algo Group 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,” said Hirander Misra, chief executive of Algo Technologies and co-founding director of AlgoSpan. “Telx’s extensive financial markets customer base, combined with our super-fast connectivity and  our extremely low latency market data feeds, positions us well to serve the latency-sensitive trading community in Chicago to gain ultra-fast connectivity to trading venues and market data feeds.”

“Telx is pleased to welcome the Algo Group to our Financial Business Exchange at our recently expanded 350 E. Cermak Rd. location in Chicago,” said Michael Cattell, VP of Financial Markets for Telx. “Telx can now offer our customers yet another low latency, direct market access solution through the Group’s portfolio of trading platform solutions.  This allows our financial markets customers to optimize the way they do business by giving them fast, cost-effective access to the trading venues and information they need.”

About AlgoSpan

AlgoSpan is a network carrier providing ultra-low latency ‘shortest path’ connectivity solutions, designed to reduce execution times to all major trading venues across Europe and the United States. We combine high-performance point-to-point network and proximity hosting services to deliver super fast market access directly to the trading desktop.   AlgoSpan is a joint venture between FibreSpan Limited and AlgoTechnologies Limited. For more information please visit www.algospan.com.

About Algo Technologies

Algo Technologies is a specialist trading technology firm providing differentiated high speed trading solutions to firms and markets so that they can ‘be first as it’s all in the timing’’. The company’s solutions include:

  • AlgoData – an in-house developed, fully distributed extremely low latency market data service – offering what we have been told is the industry’s fastest market data at competitive rates.
  • AlgoM2 – the industry’s fastest ever exchange/MTF matching engine at 16 microseconds round trip latency, delivering performance 15-30 times faster than the next quickest offering (verified by CorvilNet™)

Algo Technologies’ solutions are built by a team with many years of expertise in electronic trading across the value chain. For more information please visit www.algotechnologies.com

About Telx

Telx is a leading provider of interconnection, colocation and business exchange services in strategic, high demand North American markets.  With 15 premier facilities, Telx increases speed to market and reduces connectivity costs by providing direct connections to the industry’s highest performance networks and access to more than 800 leading telecommunications carriers, ISPs, content providers and enterprises. Telx is a privately held company headquartered in New York City with four facilities in the New York Metro area, two facilities in Chicago, two facilities in Dallas, three facilities in California, (Los Angeles, San Francisco, and Santa Clara) and facilities in Atlanta, Miami, Phoenix and Charlotte, N.C. For more information about Telx, visit www.telx.com.

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Contact:
Michelle Barry
BridgeView Marketing for Telx
603.570.7533
michelle@bridgeviewmarketing.com

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