Connectivity WORLD LEADING ACCESS TO THE MARKETS

Transcription

1 Connectivity WORLD LEADING ACCESS TO THE MARKETS

2 London & Milan Design Overview Key features ASSET CLASS ACCESS TO MULTIPLE MARKETS TRADING PLATFORM LOW LATENCY NETWORK CUSTOMER HOSTED CABINETS ULTRA LOW LATENCY CARRIERS What is? provides the fastest route possible to the London Stock Exchange Group s markets. Clients colocate their equipment directly within the same datacentre as the matching engines and market data for lowest latency access. is available to all trading participants (members and non-members) in London and Milan and also information vendors in London. The Hosting service is popular amongst proprietary trading firms and desks, as well as prime brokers, and is now home to a large community of low latency users. What are the key benefits for clients? The service provides clients with the lowest latency connectivity option, helping to manage risk and improve certainty of execution for their programmed trading strategies. The service also offers a secure and resilient data centre environment for key systems and hosts a community of prime brokers providing trading and other support services to nonmembers. UK & IOB Pan European Norwegian Nordic Russian and UK Derivatives Norwegian Derivatives part of Oslo Børs ASA Millennium Exchange SOLA CHOICE OF MULTIPLE LOW LATENCY CARRIERS Currently AboveNet (Zayo) BT COLT EU Networks Geo Networks Hibernia Level 3 Verizon Other trading venues Customer data centre LONDON LONDON and MILAN is the London Stock Exchange Group s lowest latency connectivity option for firms seeking the fastest possible access to its markets. The Group has two co-location facilities: A fully owned and operated City of London datacentre serving the London Stock Exchange, Turquoise and Oslo Børs 1 markets; and A datacentre in Milan for clients wishing to access Borsa Italiana s MTA, ETF Plus, MOT, SEDEX and IDEM derivatives market. Customer benefits of co-locating with the Exchange Clients today experience a number of significant benefits when choosing to host within the Group s datacentres. The Group s data centres are resilient and maintained to a very high standard with excellent up-time history; Italian Italian Derivatives Pan European LONDON TO MILAN NETWORK LINK Millennium Exchange SOLA SIA TradeImpact SIA DATA CENTRE CUSTOMER DEDICATED CONNECTIVITY CHOICE OF MULTIPLE LOW LATENCY CARRIERS Currently BT Colt EU Networks Fastweb Interoute Level 3 Retelit Verizon Other trading venues Customer data centre has been an instrumental component of the Group s strategy to increase the flow of liquidity onto its markets by reducing round trip latency times and increasing the likelihood of successful trading strategy execution. The service has enhanced and extended the Group s range of connectivity options and gives flexibility to participants to connect to their hosted equipment through a choice of industry leading carriers. enables trading participants to physically locate their servers within the Group s datacentre facilities, providing low microsecond access to trading platforms and real-time market data services. Round-trip connectivity latency is as low as 25 microseconds for clients, the fastest performance possible due to the physical closeness of client and Exchange servers. 1 Olso Børs is not part of the London Stock Exchange Group markets. The facilities are strategically and centrally located to achieve good average latency to multiple trading venues; Our flexible connectivity model provides access to a range of industry leading low latency domestic and European carriers; High capacity 10Gb cross connectivity to trading and information services; and Low latency access to a growing community of prime brokers to facilitate trading and other essential support services for non-members. MILAN World leading matching engines and market data systems The London Stock Exchange UK, AIM, International cash equity markets and Turquoise pan European cash equity market operate on the Group s Millennium Exchange trading platform. Developed by London Stock Exchange Group s leading trading technology business, Millennium IT, the trading platform offers the Exchange s clients superior technical performance, consistently low-latency and enhanced functionality with common interfaces. The Group s derivatives platform SOLA is used for Borsa Italiana IDEM, Turquoise Russian and UK derivatives and Oslo Børs Norwegian Derivatives markets. The platform offers clients high performance and a highly resilient design with a broad range of functionality. In addition to the DMA access model which will remain available to non-members, the London Stock Exchange and Turquoise cash equity markets have a Sponsored Access service for enabling direct connectivity to the respective trading systems with Exchange-level pre-trade risk checks. This service further enhances the opportunities for clients wishing to participate in the Group s markets from within the. Dedicated Customer Connectivity London and Milan London Stock Exchange has launched a high speed dedicated connectivity service between the Exchange Hosting London and Milan Data Centres. The dedicated connectivity service utilises the fastest available route between the Exchange s Data Centres for client own data. The Exchange has leveraged the low latency network, service experience and proven reliability of Level 3 Communications.

3 London Stock Exchange Group provides customers with resilient, scalable and low latency connectivity to our UK and pan-european markets. We ensure effective delivery of the group s markets and services to a wide range of financial community participants. As a leading global exchange venue, London Stock Exchange Group continues to invest in technology innovation and infrastructure development to meet the evolving needs of our customers. Evolving Market Access CUSTOMERS CONTRACT DIRECTLY FOR CIRCUITS Accredited Connectivity Partners Member firms Non-member firms Example Choice of connectivity supplier Carrier A 2 CUSTOMERS CONTRACT DIRECTLY WITH LSEG Access Ports 2Mb to 10Gb LSEG Primary Datacentre LSEG SERVICES Example Group services What is Customer Managed Connectivity (CMC)? Customer Managed Connectivity (CMC) provides customers with additional choice and flexibility, when directly accessing London Stock Exchange Group. Utilising an optimised network infrastructure, engineered for low latency, resiliency and scalability, customers are able to access our markets through a number of Accredited Connectivity Partners. What are Accredited Connectivity Partners (ACP)? A number of industry leading telecommunication providers have committed to working with London Stock Exchange Group to provide direct and dedicated connectivity to our markets. Under London Stock Exchange Group s accreditation programme, our Accredited Connectivity Partners have shown dedication to supporting mission critical market data and trading access, providing our customers with the reliability and stability required of the financial markets. Customer Managed Connectivity (CMC) provides access to a wide range of customers, including members and non-members of the Exchange, Market Data Vendors and Independent Software Vendors (ISVs). Main features» Flexibility - Ability to choose from a number of different physical circuit providers» Resilience - Cutting edge network design for high availability» Scalability - Choice of access speeds, from 2Mb to 10Gb» High performance - Optimised network infrastructure for direct low latency access to our markets Clients Sponsored Access Market Data Vendors ISVs 1 Carrier B Carrier C Carrier D LSEG Backup Datacentre Key benefits» Customers can choose from a number of different physical access suppliers utilising existing commercial relationships or creating new ones» Customer access ports can be sized from 2Mb to 10Gb to suit the information and trading service requirements of the firm» Access to London Stock Exchange Group s production and disaster recovery facilities are included as standard, providing customers the ability to recover quickly in difficult conditions» Increased control through the management of your own technical infrastructure» Improved performance over an optimised network infrastructure, increasing the probability of realising opportunities EXCHANGE DEMARCATION 2

4 Key features Customer Testing Design Overview What is Customer Certification and Testing s? It is a range of services that allows clients to perform various tests against the London Stock Exchange s Trading and Market Data testing services and interfaces. The services are particularly relevant to trading and technical staff within the Exchange s member firms, information vendors and other market participants. What are the key benefits for clients? These services support customers in their development and testing of the Millennium Exchange platform. They also allow clients to performance test their systems in order to optimise software and infrastructure. DEVELOP OPTIMISE CERTIFY CONNECT Customer Development High Volume Certification Test Live Connectivity Test Putting your systems through their paces The London Stock Exchange prides itself on its reliable, flexible and broad range of testing services. Our testing services support the interface between our customers applications and the Exchange s Trading and Information systems. s available to clients Customer Development The Customer Development (CDS) is a fully functioning simulation of the Exchange s production environment against which our customers can run their Trading and Information applications. Market activity is determined by the interaction between customers on the service. Exchange tools ensure that there is background activity in selected market segments, whilst a number of scripted scenarios allow our customers to follow pre defined marker actions. Customer specific instruments are also available if interaction with other customers is required. All production market segments are supported on the CDS and constituents are regularly aligned with the live service. CDS sessions can be pre-booked and allow access to the service for a full trading day with extended hours. For those customers that test regularly or appreciate the convenience of uninterrupted access then a Continuous Access is offered as a cost effective and efficient means of testing. Certification Test Our Certification Testing has been designed to allow customers to Self certify their applications. Customers are able to do their development and certify their software on our customer development environment, using a single set of enablement details. High Volume The High Volume (HVS) is a specialised testing service providing an environment in which our customers can test that their infrastructure supports market data delivered at peak throughput, without dropping messages. This service ensures customer s systems are fully compatible with Exchange, and ensures that information delivery is supported in a high capacity environment. This dynamic service broadcasts live data at a maximum rate across the broadcast services to which a customer subscribes. The HVS will run Monday to Friday out of hours between 6pm and 8pm and requires enablement and disablement at an exchange level per customer. High Volume Test sessions must be pre-booked and last approximately 120 minutes. Live Connectivity Test The Live Connectivity Test allows our customers to test connectivity to the live environment prior to go-live and on any major changes to a customer s configuration.

5 World leading access to the markets The London Stock Exchange Group s connectivity and client testing services have been developed to meet the evolving needs and demands of our diverse client base. Once connected to our markets, you will become part of a global financial community accessing one of the world s largest pools of liquidity. DIRECT CONNECTIVITY Direct Connectivity to our markets, including CMC and Extranex, is a fully managed, secure and resilient communications service that enables clients to directly connect to the Group s markets from their own location. Reliability is delivered through dedicated resources managing the service that connects client s to our primary and secondary datacentres for maximum resilience. EXCHANGE HOSTING With our co-location services in London and Milan, clients are able to place their equipment directly in the same secure and highly resilient datacentres as the trading systems. This provides connectivity to all of the Group s markets via the ultra-low latency Hosting network, the fastest possible route to our markets. CUSTOMER CERTIFICATION AND TESTING SERVICES Clients utilise our testing environment and client support services to ensure their systems are developed efficiently and functionally, are accredited and perform as expected ahead of commencing live trading operations on our markets. STX Our voice service, STX, is the essential voice network and trading platform bringing together over 275 member firms and industry professionals from across the UK, Republic of Ireland and Channel Islands to create a community of over 5000 users. Widely used and valued, STX supports a range of business activities, allowing business partners to tailor and transact what are often complex and highly customised ad-hoc transactions. We continually develop and evolve the connectivity services available for clients to access our markets with choice, performance, reliability and flexibility key in delivering successful solutions. For further details on our products or services please contact: Andrew Bailey Product Manager and Proximity s E hosting@londonstockexchange.com T +44 (0) STX Glen Harding Product Manager Customer Test s E gharding@londonstockexchange.com T +44 (0) STX Direct Connectivity Jamal Farooqi Product Manager Connectivity and Access E jfarooqi@londonstockexchange.com T +44 (0) STX STX Tracy Redgrave Product Manager STX E tredgrave@londonstockexchange.com T +44 (0) STX Copyright disclaimer The content of this material is not offered as advice on any particular matter and must not be treated as a substitute for specific advice. The London Stock Exchange attempts to ensure that all information used in this material is accurate and reliable, however all information is provided AS IS and on an AS AVAILABLE basis and may not be accurate or up to date. The information provided by the London Stock Exchange may or may not have been prepared by the Exchange but is made available without responsibility on the part of the London Stock Exchange. No responsibility is accepted by or on behalf of the London Stock Exchange plc or any of its group undertakings for any errors, omissions, or inaccurate information. Neither London Stock Exchange plc nor any of its group undertakings make any representations and the London Stock Exchange plc and each of its group undertakings disclaims all express, implied and statutory warranties of any kind, including warranties as to accuracy, timeliness, completeness, merchantability or fitness for any particular purpose. Except as is otherwise indicated, the Exchange is the owner of the copyright in all the information and of all related intellectual property rights, including but not limited to all database rights, trade marks, service marks and logos. Copyright April 2013 London Stock Exchange plc. Registered in England and Wales No London Stock Exchange plc, 10 Paternoster Square, London EC4M 7LS. Telephone: +44 (0) PM0248_LSEG_Connectivity_Full_Brochure