Chi-X Europe gets FSA approval for proximity-based sponsored access

Multi-lateral trading facility Chi-X Europe says its trading participants can now provide their clients with a "sponsored access" direct connection to its matching engine after the Financial Services Authority (FSA) approved the move.

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Chi-X Europe gets FSA approval for proximity-based sponsored access

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Chi-X says trading participants can now offer clients direct connectivity - by proximity hosting in its data centres or via remote access - to its core matching engine.

By letting them connect directly - rather than through a trading participant - customers benefit from lower latencies, says Chi-X.

Trading undertaken by a sponsored client will continue to be conducted in the name of the participant, so the legal status of those involved is unaffected.

Commenting on the move, Peter Randall, CEO, Chi-X Europe, says: "In response to the needs of the international algorithmic trading community, who are disadvantaged by distance, we applied to the FSA to offer sponsored access as a new way of helping our trading participants and their end clients achieve faster access to Chi-X Europe."

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