Perseus Connects to Brazilian Exchange

Perseus Telecom announced today that they have created the "fastest available trading connection" to leading Latin American exchange BM&F BOVESPA, via a partnership with GlobeNet, an international provider of submarine capacity, and a subsidiary of Oi.

In a press release, Perseus Telecom claoms that it now provides "the most streamlined, lowest latency route directly linking Sao Paulo's BM&F BOVESPA to New York's NASDAQ OMX, and in turn, routes to major global exchanges such as the CME, NYSE, BATS, LSE, Deutsche Borse and Eurex."

"In essence, we have brought BOVESPA directly into the US trading sphere," says Andrew Kusminsky, COO of Perseus Telecom. "Now, the connection between this fast-growing Latin American exchange and NASDAQ is as fast as a typical route between New York and London. Perseus Telecom has seen tremendous demand and need amongst our trading clients, both large and small, who need to quickly leverage the growing market opportunities in Latin America."

According to the firm, this new backhaul network opens up new opportunities for trading firms looking to increase exposure to Latin America and diversify their product portfolio. By establishing a direct connection to BM&F BOVESPA, Perseus Telecom enables trading firms to gain a market advantage. This new connection allows traders and financial firms to develop high frequency trading strategies, products and services incorporating securities traded through BOVESPA.

The release states that o the new express route establishes much-needed ultra-low latency connectivity to Brazil, an emerging and booming economy. In addition, the high capacity route will create a diverse connection that will completely avoid the highly congested NYC metro area and connect directly to the New Jersey NASDAQ facility; therefore creating new express connectivity with Chicago, Toronto, London and Tokyo financial exchanges without having to traverse traditional carrier networks.

"Designed with the latest advancements in technology, GlobeNet's low latency network ensures that financial firms receive ultra-fast connectivity," says Erick W. Contag, Chief Operating Officer of GlobeNet. "Trades and transactions can be conducted seamlessly and securely which is essential in the highly competitive financial marketplace."

"As cross-border trading becomes increasingly important in a global marketplace, the ability to access emerging marketplaces such as the BM&F BOVESPA can be a true differentiator for trading firms," says Dr. Jock Percy, CEO of Perseus Telecom.

Percy adds: "Latin America is quickly becoming an international hub and trading desks, whether at a large bank or a hedge fund, are racing to discover the arbitrage and hedging opportunities available through exchanges like BOVESPA."

Phil Albinus is the former editor-in-chief of Advanced Trading. He has nearly two decades of journalism experience and has been covering financial technology and regulation for nine years. Before joining Advanced Trading, he served as editor of Waters, a monthly trade journal ... View Full Bio