Fixnetix, the provider of European low latency market data, and the London Stock Exchange have agreed a distribution deal under which the Exchange’s Infolect data will be delivered to customers outside of its existing network via Fixnetix’ iX-Direct ultra low latency data service.
Infolect is the Exchange’s real-time market data delivery system. Infolect carries over 15 million messages a day to customers’ terminals at speeds of two milliseconds from broadcast to delivery.
The use of Fixnetix’ iX-Direct data service will enable latency sensitive financial institutions to connect their trading applications to data from the London Stock Exchange, without the delays associated with routed or managed networks using shared market infrastructures outside of the existing Infolect network.
“The London Stock Exchange is committed to delivering the lowest latency data metrics of any exchange in Europe and Fixnetix has provided our data to a number of our customers with some very impressive latency statistics,” says Wendy Morgan, the Head of Real-Time Data at the London Stock Exchange.
“We have worked hard to engineer the optimal delivery mechanism for London Stock Exchange data as banks and hedge funds are no longer prepared to accept latency and outages associated with legacy architectures,” adds Hugh Hughes, the Chief Executive Officer of Fixnetix. “Our customers have benchmarked us against other low latency offerings, including their own exchange gateways, and have chosen us purely on performance and reliability. The demand for low latency data is increasing exponentially due to the growth in algorithmic trading and having the second best solution is no longer an option.”