The London Stock Exchange is to expand its worldwide distribution of market data through the financial extranet operated by IT infrastructure services firm Savvis.
The exchange’s link to the Savvis network will allow traders in more than 40 countries to obtain market data more easily. Financial institutions in Asia, Europe and the US will have direct access to the exchange’s data feeds using Savvis’ global financial extranet.
The tie-up with Savvis, which has a large client base in the US financial services industry, will increase the exchange’s reach into the US.
The exchange’s head of real-time data, Wendy Morgan, said: “The London Stock Exchange has fast become one of the most attractive markets for global investors. We believe this agreement will support us in extending our reach, providing additional low latency trading connectivity and real-time market data access to these investors.”
She added: “Savvis has extensive experience serving the information technology needs of the financial services industry. We are looking forward to taking advantage of this relationship to connect international traders and potential clients around the world to our markets securely, efficiently and cost-effectively.”
The move is part of the exchange’s concerted attempt to push its market data out into new areas. Last month the exchange signed a deal with Fixnetix to distribute its Infolect real-time data to users outside its existing network.
The London Stock Exchange has also recently agreed a deal covering joint development of new products and cooperation over market access with its Tokyo counterpart and extended its IT and business partnership with the Johannesburg Securities Exchange.
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