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BCS launches 'fastest' London-Moscow trading
19 August 2013
BCS Prime Brokerage claims the lower-latency connection will give clients bigger trading profits
BCS Prime Brokerage (BCS) has created an ultra low latency data line between London and the Moscow Exchange, which the firm claims is the fastest trading connection between the two financial centres.
The link, which offers connection speeds of sub-39 milliseconds between the InterXion in London and Moscow's M1 data-centre, will be open only to BCS's clients. It will allow trades in equities, derivatives, FX, and other financial products.
Michael Barmettler, managing director at BCS Financial Group, said: “The implementation of this new ultra-low latency connectivity service between London and Moscow establishes once again that BCS is leading the industry by offering our clients the best possible platform to maximize their Russia trading strategies and profits.
“This ongoing dedication to the latest technology is why BCS Prime is the first choice when it comes to trading Russian markets successfully."
The firm said the connection would ensure the best available line between the two financial centres, with access to back-up sites via Frankfurt.
BCS, which is the largest trader of equities and derivatives on the Moscow exchange, with 13% of the equity trading market by turnover, also announced a shift to shorter-term contracts, as well as a free initial testing period.
Moscow Exchange also announced a new, high frequency market data service for derivatives traders via its M1 data centre, to be completed pending the migration of the Spectra platform to M1.
The exchange said the new service would allow clients to receive orders and trading data once per millisecond – 30 times faster than at present – while allowing loading of the exchange's full anonymous log once per 5 milliseconds, improving access for high frequency traders.
As part of a wide-ranging project of reform and modernisation, the Moscow Exchange has publicly called for more high frequency trading to take place on its platform and has committed to building the required systems to allow this.
The reform programme has also seen the entry of clearing houses Euroclear and Clearstream in to the Russian market and plans to move to T+2 settlement.