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tandem with Chicago - so there is no latency
[difference] between those two engines.”
Outsourcing
By outsourcing to Savvis, a pioneer in utility
computing and now an emerging leader in cloud
solutions, firms and enterprises can focus on their
core business while Savvis ensures the quality of their
IT infrastructure. The provider operates 28 data centres
globally and focusses on financial centres regionally in
New York, Chicago, London, Tokyo and Singapore.
Savvis hosts a number of FX exchanges/trading venues
including FXall, Easy-Forex and services for the CME
in their own data centres. With Savvis, comfort can
be drawn from the fact that matching engines of
many FX venues actually reside in their centres. That
is not the case with all providers.Sang Lee
“ Ideally you want to be in a location that can “Typically at our end we provide infrastructure
hit multiple execution venues.” services to various FX trading venues and exchange
groups,” says Varghese Thomas. “It could be an equity
market venue, options or FX. So, for us it’s essentiallyvery long steering wheel.” It could be that a trading
about providing the infrastructure layer, where it isboutique is located in London and the front end of
anywhere from co-location, managed hosting or thetheir platform is over in Chicago.
network layer that they [users] can leverage and take
advantage of.”Pickles says even though everything technically might
be operational 99% of the time, you are trading as if
In terms of exchange connectivity, improved speedsyou were sat in Chicago. But today with some market
are genuinely achievable when adopting proximityparticipants connected to a myriad of different
physical locations, he asks whether the locations
(venues) eventually start to say: ‘Well maybe we’re
going to have move closer to the customer.”
That, according to Sang Lee, co-founder of research
firm Aite Group, is not so far fetched. But it does
throw up certain issues. “I think then that you would
really need to build a distributed architecture. If you
are a trader based in London, of course you would
much prefer if there is some instance of a trading
engine like the CME in London and ideally be able to
send the orders you want through to London.”
But, Lee says, the distributed architecture would have
to built in such a way that “when an order gets is
despatched, the routing engine needs to confirm
where the best matching to send it to is.” This applied
across the board, but especially when accessing
currency products (futures and options) on the CME, Varghese Thomas
ISE or NASDAQ. “Typically,if you are deploying a proximity hosting solution
you want to be in or near the data centre
where the exchange venue or matching engine is located."He adds: “If the order gets sent to London, it needs
to ensure that the final execution occurs there - in
|58 october 2009 e -FOREX
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