Thomson Reuters today launched Elektron, its next generation real-time network and hosting environment, in India to meet the strong demand for fast and cost-effective access to this important emerging market.
Working in collaboration with Netmagic Solutions Pvt. Ltd, the new facility at the Bombay Stock Exchange will provide co-location hosting with a managed application environment, low latency connectivity to local market data and access to the Elektron global real-time network.
By aligning with the Bombay Stock Exchange's data centre strategy, Thomson Reuters is able to extend its Elektron network within Asia, building on the launch of hosting sites in Tokyo, Hong Kong and Singapore announced earlier this year. This latest addition to the Elektron network delivers the fastest access to the Bombay Stock Exchange, reducing client's time to market, infrastructure footprint and maintenance costs by outsourcing parts of their development and data distribution capabilities to Thomson Reuters.
Thomson Reuters 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.
Thomson Reuters will deploy its award winning direct feed technology for the Indian cash equity markets as well as providing access to their Elektron network of over three hundred electronic trading venues worldwide, global over-the-counter and news content. Connection to the Bombay Stock Exchange's low latency feed will provide comprehensive real-time market data for all stocks listed on the exchange, including prices, indices and volume for up to five levels of market depth.
Mike Powell, Global Head of Enterprise Real Time Solutions, Thomson Reuters, said: "Financial institutions are becoming increasingly sophisticated in their trading strategies for the Indian market and this is driving demand for our low latency solutions. We are therefore delighted to be working with the Bombay Stock Exchange and Netmagic to facilitate improved access for trading participants as we look to set new performance benchmarks for market connectivity and managed services across the region through the Elektron cloud."
Sharad Sanghi, Managing Director and CEO of Netmagic Solutions, said: "We are excited to collaborate with Thomson Reuters to deliver our best in class managed services to support mission critical environments of the financial community. As a part of this agreement customers will be able to access Thomson Reuters Elektron services across all our carrier neutral data centres in India."
Madhu Kannan, Bombay Stock Exchange Managing Director and CEO, said: "This is an exciting new initiative for the Indian financial market as we announce our new co-location strategy with the aim of supporting our customers' evolving trading strategies. We are also pleased to be working with a global partner such as Thomson Reuters and the Elektron network as we share the goal to deliver world class services to our mutual client base."