A provider of a securities trading platform has selected Singapore to be the base of its data centre to serve clients in Hong Kong, Japan and Singapore.
Chi-East, which provides non-display trading platform for securities, has chosen Equinix's Singapore 2 (SG2) International Business Exchange (IBX) as the primary data centre because of its carrier and financial network connectivity infrastructure.
Chi-East is a joint venture between Chi-X Global and Singapore Exchange. The non-display trading platform is used by broker dealers to offer their clients the opportunity to trade in large transactions without exposing their strategy or causing adverse market reaction.
The platform is used by traders dealing with the 3,264 securities currently supported on Chi-East's system. This includes all Singapore Stock Exchange-listed shares, all Hong Kong Main Board listed shares, the component stocks of the TOPIX 100 (Tokyo Stock Price Index) and all listed exchange traded funds (ETFs) in Hong Kong, Japan and Singapore.
"One of the unique features of Chi-East is our ability to provide non-displayed trading to clients located throughout Asia from a single location in Singapore. To do this, we have selected a partner that can provide low latency services to our trading participants," said Ned Phillips, CEO, Chi-East. "We chose Platform Equinix because of its established financial ecosystem, low latency infrastructure and highly secure environment.
Nasdaq-listed Equinix operates the IBX data centres in 38 markets across the Americas, EMEA (Europe, the Middle East and Africa) and the Asia Pacific. It connects enterprises, cloud services, digital content and financial companies. Equinix's network provides the financial community high performance connectivity with low latency.
"The addition of a strong trading venue like Chi-East to the Equinix portfolio showcases our capabilities to provide a neutral environment with optimal connectivity. It further demonstrates how Platform Equinix can provide market participants with access to new business opportunities across multiple locations," said David Wilkinson, senior director, business development for Equinix in the Asia Pacific.
Sign up for CIO Asia eNewsletters.