Options IT Brings PIPE Velocity to the ASX

Options IT, a firm specializing in high speed market connectivity, announced it added the Australian Securities Exchange to its PIPE Velocity ultra-low latency service.

The firm said that clients using the Velocity platform will now be able to receive ASX market data, adding that it made the move in response to rising competition among Australian equities markets.

The ASX is expected to launch a revamped trading platform later this year, with additional alternative trading systems projected to go live in 2011, Options IT said.

“The Australian market is becoming increasingly attractive to our clients, due in large part to the significant transformation currently underway at the ASX,” Options IT Chief Executive Nigel Kneafsey said in a statement. “As the markets become more faster and efficient, leading to lower costs and higher volumes, we believe client demand to trade the Australian market will continue to grow.”

As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced Trading in 2010, Grant's news analysis has touched on everything from the latest ... View Full Bio