CME Group Selects Equinix For London-Based CME Globex Hub
Leading global exchange to open a European electronic trading hub in Equinix’s LD4/LD5 campus.
The CME Globex hub is scheduled to open in May 2013. Once completed, it will enable further alignment with the CME Group’s regional customers, while providing the company access to an expansive community of potential customers located inside Equinix International Business Exchange™ (IBX®) data centers around the world.
William Knottenbelt, managing director EMEA, CME Group said,“We continue to see growing demand from our customers based throughout Europe for our product offerings, which means that we also need to focus on building our infrastructure and technology capabilities in the region. By opening this new hub with Equinix, we are helping our customers achieve better cost and technology management efficiencies with the added benefit of accelerated access to our markets.”
Approximately 25% of CME Group’s electronic trading volume comes from outside the United States, primarily from the EMEA region. Locating the CME Globex hub at Equinix’s LD4/LD5 campus gives CME Group a significant advantage by placing its business within close proximity to Europe’s leading trading platforms and electronic trading customers.
New market regulations across Europe are driving the movement of derivatives to trade on exchanges resulting in trade processing through central clearing houses and data being reported and housed in trade repositories. Over the past few years, Equinix has built a cross-asset class business which is well-positioned to meet the demands of the evolving algorithmic trading market and its growth into additional asset classes such as FX and derivatives.
Stewart Orrell, managing director of Global Financial Services, Equinix said,
“In today’s evolving market, exchanges want to reach the largest trading community with the lowest infrastructure costs, using data centers already well-populated with their target customers. Equinix is the only network-neutral data center provider that’s able to meet these needs globally, and CME Group will be a uniquely powerful addition to the thriving financial ecosystem inside Equinix.”
Customers interested in connecting to the CME Globex hub simply need to either acquire space in Equinix’s LD4/LD5 campus and cross-connect to the platform or lease a line.