Colt to Expand Korean Co-Lo Footprint
The expansion grows Colt's space in the datacenter by almost one-third, in response to demand from international high-frequency trading firms.
The datacenter building is owned by Koscom, a subsidiary of the Korean Exchange (KRX). In March 2012, Japanese IT and datacenter services provider KVH─which Colt acquired in 2014 (IMD, Nov. 12, 2014)─partnered with Koscom and the Korea Ministry of Finance, allowing the vendor to provide proximity hosting services at the Busan facility.
Sooyoung Sung, Colt's Seoul-based Korea business head, says this represents the third co-location expansion since KVH began construction of its presence in the Busan facility in 2012. KVH completed construction in 2014.
The latest expansion will provide 30 percent more broker-neutral co-location space at the Busan facility. In February 2016, KRX launched derivatives data distribution directly from Busan, which has resulted in more international high frequency trading firms setting up their trading infrastructure at Colt's facility there, which Sung says is the main reason for the expansion.
The datacenter is in close proximity to KRXʼs derivative market matching engine, giving latency-sensitive traders an alternative way to access its trading system.
"The expansion is more particularly for international high-frequency trading clients that want to improve their ability to trade in Korean derivatives," Sung says, adding that since both KRX and Koscom are now fully privately held, they have been very keen to grow their international business.
Separately, Sung says Colt is already in talks with an unnamed "key anchor client" to deploy its financial extranet service in Korea within the next year, following a recently announced multi-year partnership with Koscom to deliver ultra-low-latency connectivity between capital market participants in Korea and the world's major stock and derivatives exchanges. The partnership with Koscom also enables Colt to further develop integrated financial IT and market data solutions for Korean capital markets, such as its Prizmnet financial extranet.
Colt rolled out Prizmnet in Japan, Hong Kong and Singapore beginning of this year, and is looking to add Sydney, Australia to its list of Asia-Pacific locations in the near future.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
Quants look to language models to predict market impact
Oxford-Man Institute says LLM-type engine that ‘reads’ order-book messages could help improve execution
The IMD Wrap: Talkin’ ’bout my generation
As a Gen-Xer, Max tells GenAI to get off his lawn—after it's mowed it, watered it and trimmed the shrubs so he can sit back and enjoy it.
This Week: Delta Capita/SSimple, BNY Mellon, DTCC, Broadridge, and more
A summary of the latest financial technology news.
Waters Wavelength Podcast: The issue with corporate actions
Yogita Mehta from SIX joins to discuss the biggest challenges firms face when dealing with corporate actions.
JP Morgan pulls plug on deep learning model for FX algos
The bank has turned to less complex models that are easier to explain to clients.
LSEG-Microsoft products on track for 2024 release
The exchange’s to-do list includes embedding its data, analytics, and workflows in the Microsoft Teams and productivity suite.
Data catalog competition heats up as spending cools
Data catalogs represent a big step toward a shopping experience in the style of Amazon.com or iTunes for market data management and procurement. Here, we take a look at the key players in this space, old and new.
Harnessing generative AI to address security settlement challenges
A new paper from IBM researchers explores settlement challenges and looks at how generative AI can, among other things, identify the underlying cause of an issue and rectify the errors.