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Colocation of FX Trading Platform in New York

Client

French Investment Bank

Function

E-commerce; FX; Trading

Asset Class

FX

Geography

Global

Duration

1 year

The Ask

The client had embarked upon an investment on colocation technology for their FX Pricing Engines to be located close to the source of their providers of FX market price streams. This provided them with a competitive advantage through low latency trading of FX currencies on their single dealer trading platform.

GreySpark was asked to provide a Senior Consultant with infrastructure and project management experience to assist in the delivery of this project.

Methodology

The project was part of an ongoing programme to deliver competitive advantage through the use of low latency technologies.

1. The Senior Consultant obtained a full account of details from the client’s previous colocation project.

2. A fast-track project plan was initiated to encompass all the lessons learnt from the previous colocation project.

3. The Senior Consultant delivered the completed colocation site with sign-off from infrastructure support and application support.

4. The Senior Consultant supported the client with market research on low latency message bus technology.

Outcome

GreySpark delivered:

  • Project initiation plans and budget forecasts;
  • Procurement plans for new hardware resources;
  • Implementation plans and coordination of deliveries across application, IT and APS teams;
  • Infrastructure handover documentation for support sign-off and acceptance;
  • An application development roadmap to activate colocation trading; and
  • Formalised project processes and design templates for the expansion of colocation sites to Asia.

GreySpark Delivered Benefits

  • The client gained a competitive advantage, enabling the bank to stream FX market prices close to the source with the ability to perform low latency trading.
  • GreySpark enabled the expansion of colocation from London to New York.
  • The client gained the ability to fast-track the construction of new colocation sites in Asia.
  • New low latency message bus technology provided the client with modular application architecture at these colocation sites.
  • GreySpark provided independent analysis that increased client confidence in its decision making.

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