- Burgundy Locate...
Burgundy Locates Matching Engines at Interxion’s Stockholm Data Centre
STOCKHOLM 14 October 2010 – Interxion, a leading European operator of carrier-neutral colocation data centres, today announced an agreement with the Nordic multilateral trading facility (MTF) Burgundy to move its matching engines to Interxion’s Nordic Financial Hub in Stockholm. This agreement allows investment and trading firms to connect at ultra-low latency to Burgundy’s platform.
Burgundy, launched on 12 June 2009, was established by a group of the largest banks and brokers in the region and aims to become the leading platform for trading Nordic shares. Backed by 14 of the regions leading banks/brokers, Burgundy’s owners collectively account for around half of all trading volumes in Swedish, Norwegian, Finnish and Danish equities.
“New trading opportunities are emerging in the Nordic markets following the increasing fragmentation of the markets. This is fueling increasing demand for colocation and proximity hosting services to the Nordics liquidity venues in order to reduce latency. Banks’ statistical arbitrage desks and high-frequency traders are now locating their trading platforms in Stockholm as the Nordic markets are becoming more competitive”, said Kevin Dean, Chief Marketing Officer, Interxion. “In response, liquidity venues such as Burgundy are selecting sophisticated data centres allowing market participants to colocate in close proximity to the venue’s matching engines.”
“We aim to attract 25% of Nordic liquidity, and we believe we have the backing and the infrastructure in place to provide a highly competitive alternative market,” said Olof Neiglick, Burgundy CEO. “Colocation services are a key element in our offer; a significant proportion of Nordic trading is currently conducted outside the region. As a result, there is a clear need for low-latency access, and Interxion have the location, the infrastructure, the connectivity and the expertise to provide a turnkey solution to our customers.”
“A fast-growing number of investment and trading firms, as well as leading market data, connectivity and technology vendors, is recognising the benefits of locating their servers at Interxion’s Nordic Financial Hub data centre, creating a tightly knit community,” said Peder Bank, Interxion Nordics Managing Director. “By colocating at Interxion, market participants can gain low-latency access to Burgundy and the other Nordic liquidity venues, benefit from an extensive choice of low-latency connectivity providers and reduce latency, as well as reducing trading infrastructure costs by interconnecting with their counterparties located within the same data centre.”
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Interxion is a leading provider of carrier-neutral colocation data centre services in Europe, serving over 1,100 customers through 28 data centres in 11 European countries. Interxion’s uniformly designed, energy-efficient data centres offer customers extensive security and uptime for their mission-critical applications. With connectivity provided by 350 carriers and ISPs and 18 European Internet exchanges across its footprint, Interxion has created content and connectivity hubs that foster growing customer communities of interest.
Burgundy is a multilateral trading facility, owned by the leading Nordic banks and securities trading firms, that offers trading in close to 600 Swedish, Norwegian, Finnish and Danish equities. Burgundy shareholders represent almost half of the trading volume in Nordic equities. They are Ålandsbanken, Avanza Bank, Danske Bank, Carnegie, DnB NOR, Evli Bank, Handelsbanken, HQ Bank, Neonet, Nordea, Nordnet, SEB, Swedbank and Öhman. Burgundy is a client-oriented platform, designed to offer cost-effective securities trading and to strengthen the Nordic region as a financial hub and to provide an alternative to existing trading facilities. Retail or institutional investors can trade on Burgundy via one of Burgundy’s trading participants. Equities representing approximately 85% of the Nordic equity trading volume are available on Burgundy’s state-of-the-art, low-latency platform. For more information please visit www.burgundy.se
Ali Moinuddin, Marketing Director
Tel: +44 207 375 7038
Olof Neiglick, CEO
Tel: +46 8613 1200