ICAP connects with Perseus for Brazilian HFT service
Broker ICAP will use high-frequency trading infrastructure from specialist Perseus Telecom as it seeks to expand its coverage across Brazil and Latin America.
ICAP is already active in the region, where it connects to São Paulo and Mexico City. The Perseus LiquidPath service provides connectivity, hosting, consulting, and real time monitoring, and includes HFT services for staging market data, order management and algorithmic equipment. The service also includes direct market access to OTC and exchange-traded products. The service was originally built by local São Paulo firm E-Trade Lab in 2012, before the Brazilian firm was acquired by Perseus.
“Perseus LiquidPath is a fast and cost-effective solution for the deployment of trading infrastructure into foreign markets so highly demanded by ICAP customers,” says Brian Lee, managing director of ICAP US. “ICAP’s global exchange traded network continues to grow and we look forward to developing this relationship with Perseus into other technology areas in the future.”
Perseus is currently engaged in a race for speed with rivals such as Colt to provide the fastest network infrastructure possible. Last month, Perseus rolled out a microwave trading link between Frankfurt and New York, which it claims is the fastest available connection between the two points.
Brazil has attracted considerable electronic trading investment over the last decade. The market has sophisticated co-location facilities, while its native BM&F Bovespa exchange has recently rolled out its new Puma trading platform, which brought lower latency and improved capacity. The market is expected to open up to direct trading venue competition in early 2015, when challenger ATS Brasil is due to launch.
