Colt has announced the launch of its financial services extranet Colt PrizmNet, which will connect providers of financial content – including market data, research and other services – to Capital Markets firms. A dedicated private network with deterministic low latency will guarantee reliable, consistent, and transparent content delivery. Providers already signed up to distribute content via Colt’s extranet service include NLX, Nasdaq, Japan Exchange Group (JPX) and Aquis Exchange.
Capital Markets firms will be able to connect to new markets and clients quicker, which is particularly important in an environment where trading opportunities are short lived. In today’s fragmented ecosystem firms struggle to connect fast enough to an ever-growing number of financial content providers needed to support trading connections, middle office and post-trade activities. This challenge is compounded by pressures faced from new market entrants, budget constraints and regulation.
The Colt PrizmNet service has been designed in consultation with over 20 investment banks, asset managers and brokers. It has four key differentiating features:
- Guaranteed deterministic latency for the delivery of content to the consumer
- Near real time network performance monitoring
- Self-service portal for easy access to content and services
- Superior business focused SLAs (Service Level Agreement)
“Since creating our dedicated Capital Markets vertical last year, we have been talking to our customers to understand their expectations of an extranet service,” explains John Loveland, VP Capital Markets at Colt. “Accessing new markets quickly, ensuring reliable, transparent and stable connections to existing markets, and the flexibility to change whenever trading strategy dictates, are all high priorities. Colt PrizmNet will help address the need to speed up access to new markets. This service has been designed to help mitigate risk and deliver the critical information that underpins the execution of millions of trades daily.”
Colt is currently in active discussions with over 50 providers of content for Colt Prizmnet. Current partners include JPX and Aquis Exchange:
“The increasing interest in the Asian markets has created a growing demand for access to JPX products,” says Ryusuke Yokoyama, Executive Officer at Tokyo Stock Exchange, Inc. “With the broad reach of the network, the fast connections to major markets and the ability to monitor those connections in real time, JPX welcomes the launch of Colt PrizmNet to help market participants in Asia, Europe and the US quickly and easily access the services we provide.”
“At Aquis Exchange we value choice and want our members to have as many connectivity options as possible,” says Alasdair Haynes, CEO of Aquis Exchange. “Colt PrizmNet allows our members to choose from a wide variety of content and service options, to connect to markets quickly and with a guaranteed level of latency. We are happy to be partnering with Colt as they launch this new extranet service focused on getting customers to market faster.”
The Colt PrizmNet service combines existing network and data centre assets as well as the financial services industry and low latency network experience of Colt, KVH and MarketPrizm. PrizmNet is available for all market participants across Europe today with similar services to follow across Asian markets and in key North American cities throughout 2015. Full functionality in all regions will be available by the end of 2015.