About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Colt Adds More Destinations To PrizmNet

Subscribe to our newsletter

Last month’s hire of Andrew Housden as vice president of capital markets appears to be just the first step in expanding the Colt Capital Markets unit of network and communications provider Colt Technology Services.

Colt Capital Markets is leveraging Colt Technology Services’ co-location capability for distributing market data in support of best execution of trades. The capital markets unit’s PrizmNet financial services extranet service has its origins in MarketPrizm, which Colt acquired in 2011.

In the past 12 months, Colt has added 20 more providers to PrizmNet, raising its total to more than 70, according to Andrew Young, global head of solution sales for capital markets at Colt Technology Services, who reports to Housden. By pairing the pathways acquired from MarketPrizm with Colt’s telecom assets, PrizmNet became “truly global,” Young says. “We were able to fast track that because we already were distributing content and market data across 50 different markets and exchanges.”

Colt works with the consolidation of strategic data centers that has occurred in the past few years, Young explains. “The capital markets community now goes after a small number of physical locations,” he says. “We made sure our points of presence center around those key co-location facilities. But also because we built the underlying service on our own network that we own, we can be very aggressive around delivery times and speed to markets, while providing strong service levels, because we have that end-to-end control, since the underlying infrastructure is our own physical assets.”

The additions to PrizmNet are coming from more asset classes than before, according to Young, which dovetails with upcoming MiFID II regulation that imposes more rules like those for equities onto derivatives and other asset classes. “OTC products and asset classes are moving toward more exchange-type environments,” he says. “We’re on boarding a lot of providers in those asset classes as well as service providers that have solutions for upcoming regulation.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Hearing from the Experts: AI Governance Best Practices

The rapid spread of artificial intelligence in the financial industry presents data teams with novel challenges. AI’s ability to harvest and utilize vast amounts of data has raised concerns about the privacy and security of sensitive proprietary data and the ethical and legal use of external information. Robust data governance frameworks provide the guardrails needed...

BLOG

KX and OneMarketData to Merge, Creating a New Force in Capital Markets Data and Analytics

KX, the real-time analytics specialist behind the kdb+ time-series database, is set to merge with OneMarketData, provider of the OneTick market data management and analytics platform. The deal, which follows KX’s acquisition by private equity firm TA Associates in July, brings together two well-established names in capital markets technology under the KX brand. Ashok Reddy,...

EVENT

RegTech Summit New York

Now in its 9th year, the RegTech Summit in New York will bring together the RegTech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

The DORA Implementation Playbook: A Practitioner’s Guide to Demonstrating Resilience Beyond the Deadline

The Digital Operational Resilience Act (DORA) has fundamentally reshaped the European Union’s financial regulatory landscape, with its full application beginning on January 17, 2025. This regulation goes beyond traditional risk management, explicitly acknowledging that digital incidents can threaten the stability of the entire financial system. As the deadline has passed, the focus is now shifting...