London, United Kingdom, 14 April 2010
FibreSpan Limited and AlgoTechnologies Limited are pleased to announce the launch of AlgoSpan Limited, which aims to offer the shortest path network linking US and European exchanges with traders.
AlgoSpan is a joint venture between AlgoTechnologies and DTI licensed, Ofcom regulated FibreSpan. It brings together FibreSpan’s expertise in the construction and maintenance of bespoke dark fibre and ultra-high bandwidth network services and AlgoTechnologies’ expertise to deliver next generation trading technology services such as near-zero latency market data, direct market access and smart order routing over the network to meet customer demand.
AlgoSpan will dramatically reduce transaction latency. Super fast fibre connectivity and co-location is immediately available to European and US markets, along with ‘Fibre to the Door’ point-to-point connectivity from customers’ premises to exchange data centres. This combination enables customers to achieve the speed, flexibility and competitive advantage needed to execute financial transactions with near zero latency using the shortest path available.
Robert Bicket, CEO of FibreSpan and newly appointed CEO of AlgoSpan commented, ”We believe that AlgoSpan’s advanced network offering is unrivalled in today’s market in terms of its high bandwidth, competitive pricing and nearzero latency, and we are delighted to be announcing this joint venture with AlgoTechnologies. Bandwidth and latency have become key considerations in today’s trading environments. The market is experiencing significant growth in automated and algorithmic trading, as well as a major increase in message volumes. Many buy-side and sell-side firms depend on execution speed, where microseconds can make the difference. By directly interconnecting algorithmic trading engines to an exchange’s technical infrastructure through our services, traders can benefit from a significant reduction in latency – helping to shave milliseconds from the time needed to process transactions through exchanges.”
Hirander Misra, CEO of AlgoTechnologies and newly appointed Director of AlgoSpan added, “While exchange/MTF latencies have improved dramatically over the last few years, this improvement is all too often undermined by the legacy of telco networks carrying messaging between traders and exchanges. Lost time equals lost trading opportunities. This joint venture with FibreSpan, together with our own product offering, provides trading firms and exchanges with a super fast one stop shop for services such as connectivity and market data, allowing them to focus on their core business knowing that the technology to support it is taken care of. AlgoSpan will reduce data and transaction telco carrier latency as close as it is possible to get to the speed of light”.
