MarketPrizm’s tie up with Fusion Systems to offer a managed, low latency market gateway and risk management solution for clients in Asia-Pacific is expected to extend to the US later this year and could reach European markets depending on client demand.
The joint offer combines MarketPrizm’s market data, collocation hosting, infrastructure and connectivity services with Fusion’s Raptor, ultra-low latency, risk-managed market gateway platform for major Asian equity and derivative exchanges and alternative venues. It is available immediately for clients in Japan and Hong Kong, and will soon be up and running in Singapore and Australia.
Fusion partner Jonathan Hope explains: “The risk management function in Asia is becoming even more critical and, at the same time, it is now commoditised and can be outsourced. The combination of MarketPrizm’s market data and extensive reach in the exchange collocated infrastructure space, together with Fusion’s trading software and expertise, will bring that evolution to its logical conclusion, enabling a broader client base to take advantage of our platform.”
Fusion Systems is an Asian based capital markets technology provider servicing local markets, but its partnership with MarketPrizm is expected to take it further afield based on the strength of MarketPrizm’s collocation and infrastructure presence across Europe and its ownership by Colt, and its relationship with sister company KVH in Chicago.
Ralph Achkar, director of product at MarketPrizm, says: “Working with Fusion is the way we like to partner. Fusion provides the software and we have deployed infrastructure. While Fusion develops software in Asia for Asian markets, the partnership could be extended to other markets. We are collocated in towards 35 exchanges and liquidity centres, mostly in Europe and Asia, and we have an indirect presence in the US through KVH. By the end of this year, we hope the partnership will have a presence in New York and Chicago. Fusion is also looking at some European markets and will develop its software for markets where there is demand.”
The companies’ initial foray into Asian markets is finding interest among tier one investments banks and proprietary trading houses, with both companies expecting to attract new clients as a result of packaging their technologies into a managed, end-to-end, low latency market gateway.