Netmagic opens co-location datacenter at BSE

by CXOtoday Staff    Nov 08, 2010

NetmagicNetmagic Solutions, managed IT hosting services provider, inaugurated its co-location datacenter at the Bombay Stock Exchange facility in Mumbai. This new hosting centre is aimed at minimize latency to and enable high frequency trading. The company has also collaborated with Thomson Reuters (NYSE:TRI) for the same.

The inauguration of the facility was presided over by S Ramadorai, chairman – BSE; Madhu Kannan, MD & CEO – BSE; Ashish Chauhan, deputy CEO – BSE; Eugen Tjong, head of enterprise real-time solutions, Asia Pacific - Thomson Reuters and Sharad Sanghi, MD & CEO, Netmagic Solutions.

“We are excited to collaborate with Thomson Reuters and Bombay Stock Exchange in setting up this co-location datacenter at the BSE facility. This is an initiative to deliver our best in class managed services to support mission critical environments of the financial community,” remarked Sharad Sanghi, MD and CEO of Netmagic Solutions.

Working in collaboration with Thomson Reuters, Netmagic will provide a managed application environment and access to the Thomson Reuters Elektron global network. Elektron is a network and hosting environment that enables financial firms to access and share information. 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, as informed by the company.

“I am sure that the discerning high frequency traders and other members will select this ‘neutral’ facility which provides low latency feeds and also provide facility to place orders in to any exchange in the world including major Indian exchanges. This is a part of BSE’s endeavor to create alliances with market leaders to enhance the value provided by BSE Ecosystem to all its participants,” commented Madhu Kannan, MD and CEO, BSE.