The Bats trading exchange has hired infrastructure services firm SAVVIS to host its Bats electronic equities trading platform in London to support the European market.
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In less than two years, Bats has captured an estimated 10% of the US market, and it recently announced plans to enter the European equities market.
SAVVIS has hosted Bats Trading since its inception in the US. As one of the fastest trading platforms in the US market, a key part of the deal will allow Bats' customers to use SAVVIS' Proximity Hosting solution to further reduce transaction times.
The US Bats trading platform is an estimated 12 times faster than the London Stock Exchange.
SAVVIS has provided Proximity Hosting to US Bats customers since August 2007. SAVVIS' newly expanded datacentre in London's Docklands will support the move to Europe, and will give Bats the capacity for future growth.
Ken Conklin, senior vice-president in charge of business development at Bats, said, "With the advent of the Markets in Financial Instruments Directive (Mifid), there is real demand in Europe for access to global markets and, in order to make international trading successful, we must replicate the same speed and responsiveness we have displayed in the US."
SAVVIS currently provides managed hosting and networks for a number of the world's largest financial exchanges, investment banks and hedge funds.