Chi-X Europe, which operates a pan-European equity Multilateral Trading Facility (MTF), can now be accessed by buy-side and sell-side firms in London with ultra-low latency using BTs Radianz Ultra Access service.
BTs Radianz Ultra Access provides low-latency connectivity between investment banks, brokers and investment managers and the exchanges and MTFs on which they trade.
Chi-X Europes matching engine is rated as super-fast for matching trades with an average internal latency of 350 microseconds, said Hirander Misra, Chief Operating Officer, Chi-X Europe. In order to take advantage of this it is vital that our participants have the lowest-latency inbound connectivity possible while also having sufficient spare capacity to deal with daily peaks in trading activity. BTs Radianz Ultra Access will help us to maintain our market-leading position by providing participants with ultra-fast fibre access to trade on the Chi-X visible order book and the Chi-Delta non-displayed order book as well as to utilise our Chi-Vision smart liquidity consolidation service.
Andy Nicholson, VP, Global Banking and Financial Markets at BT, said: It is critical that market participants can connect to MTFs and exchanges at sub-millisecond speed. Not only will Radianz Ultra Access enable Chi-X Europe to deliver this ultra-high-speed connectivity to its users, but it will also improve efficiency and liquidity in the market.