Avelacom Brings Low Latency Data to Tadawul
Avelacom, a global provider of infrastructure and connectivity solutions for trading, announcing its network expansion to Riyadh to allow global capital markets access low-latency, real-time market data feeds across various asset classes of Saudi Stock Market (Tadawul).
This market data solution is designed in response to a high demand from the global financial communities to find new sources of liquidity, diversify portfolios, while reducing costs and mitigating risks. Saudi Arabia continues to liberalise markets. Its latest improvements to further align Tadawul with international standards draw attention of global financial firms. And that eventually leads to an increased need in connectivity and ready-to-go IT infrastructure.
Avelacom came up with a solution enabling to take market data directly from Tadawul over a cross-connect and then distribute it over its network, optimised for high speed electronic trading. With this complemented by points of presence (PoPs) in Slough, Secaucus trading hubs and CME’s data center in Aurora, Avelacom can now support global financial firms with real-time market data, essential to implement cross-venue arbitrage strategies.
The roundtrip latencies to key destinations:
|London, Slough – Riyadh, Tadawul||78.4 ms|
|New York, Secaucus – Riyadh, Tadawul||142.22 ms|
|Aurora, CME – Riyadh, Tadawul||156.97 ms|
With Avelacom’s completely outsourced cloud-based solution companies benefit from both fast time-to-market and reduced expenditure on hardware. For HFT firms, in particular, Avelacom’s solution helps to test trade ideas, algorithms before they get started to trade, in a low-cost, low-risk manner.
“By offering acess to a full set of Tadawul market data we believe we encourage financial firms to explore new trading venues. The financial market is changing fast and requires the ability to create fresh and unique opportunities. The key things before getting started in a new market are market data, connectivity and a broker. But market data comes first. Since our expansion is driven by our clients demands we plan to expand our services portfolio and to bring more geographies and markets for more trading opportunities”, said Aleksey Larichev, Avelacom’s Managing Director.
The exchange prefers to be market-technology provider rather than a market.
Leveraging technology to automate existing processes isn't enough, exec says.
The pair eye to be the first regulated venue for digital securities.
Euro clearing may be forced to move from London after Brexit.
A pilot is the only way that the SEC will know if a venture exchange would work.