Netmagic Opens Colo Datacenter at BSE

(Ping! Zine) – Managed IT Hosting Services Provider, Netmagic Solutions recently announced the inauguration of its co-location datacenter at the Bombay Stock Exchange facility in Mumbai. This new hosting centre will minimize latency to and enable high frequency trading. Working in collaboration with Thomson Reuters, Netmagic Solutions will provide a managed application environment and access to the Thomson Reuters Elektron global network. Elektron is a global, ultra-high speed network and hosting environment that enables financial firms to access and share information faster and more cost effectively. Hedge funds, asset managers, banks, brokerages, exchanges and other participants will for the first time, be able to connect to the world’s largest financial community and securely reach trading partners over the network.
Key Highlights

    * Co-location hosting facility at BSE to minimize latency and enable HFT
    * Ability to trade in other exchanges from the hosting venue
    * Access to direct feed from Indian cash equities market, over 300 trading venues worldwide, global over-the-counter and news content
    * Completely managed solution to enable customers to focus on core business activities
    * Complete pre-sales solution and post-sales support from Netmagic and Thomson Reuters

The inauguration of the facility will be presided over by S Ramadorai, Chairman – BSE; Madhu Kannan, MD & CEO – BSE; Ashish Chauhan, Deputy CEO – BSE; Eugen Tjong, Head of Enterprise Real-time Solutions, Asia Pacific – Thomson Reuters and Sharad Sanghi, MD & CEO, Netmagic Solutions.

Sharad Sanghi, Managing Director and CEO of Netmagic Solutions, said: “We are excited to collaborate with Thomson Reuters and Bombay Stock Exchange in setting up this co-location datacenter at the BSE facility. This is an initiative to deliver our best in class managed services to support mission critical environments of the financial community.”

Madhu Kannan, Bombay Stock Exchange Managing Director and CEO, said: “I am happy to announce that a high tech co-location data center facility has been inaugurated at BSE today. The facility provided by industry leaders such as Netmagic and Thomson Reuters will go a long way in providing state-of-the-art, exchange neutral but BSE co-located data center facilities to high frequency traders as well as other small and large brokerage houses. I am sure that the discerning high frequency traders and other members will select this ‘neutral’ facility which provides low latency feeds and also provide facility to place orders in to any exchange in the world including major Indian exchanges. This is a part of BSE’s endeavour to create alliances with market leaders to enhance the value provided by BSE Ecosystem to all its participants.”