Automated trading enabler CFN Services is now offering two of its financial Cloud products to additional markets throughout Europe.

The first product, its Alpha Platform On-Demand public cloud service, is now available in proximity locations at London and Frankfurt.The second is its Alpha Platform internal cloud system for automated low latency trading, market data delivery and trade management. This platform is now available at five more financial hubs throughout Europe: Madrid, Zurich, Milan, Stockholm and Moscow. It previously had already been available in London and Frankfurt.

“Our European expansion is in direct response to our clients’ needs,” said Mark Casey, President and chief executive of CFN Services in a statement. “As brokers, dealers and trading firms move to diversify their trading strategies, they are increasingly looking to overseas markets. Our global, low-latency networks and high-performance infrastructure will enable European market participants to grow their businesses and expand into new markets.”

The Alpha Platform On-Demand product is a public cloud that customers can use as a virtual server to provide computer processing power to new locations for running front and back office applications like risk and market data management, back-testing and clearing and settlement, among other functions.

“Instead of shipping an additional server to another location, customers can go through a web portal and configure your own server,” Casey told Securities Technology Monitor. “You input the amount of processing power, the amount of memory, and so on and in around 15 minutes you have a server.”

Meanwhile, Alpha Platform, which is CFN’s core product for financial firms, serves as a firm’s infrastructure for all its automated high frequency trading functions across a variety of asset classes, including equities, options, futures, derivatives and FX markets. It is now available to buy-side, sell-side and trading application providers.

Casey explained that the two expansions are targeted at two sectors.

The first are firms, including North American businesses, that want to trade in Europe, but haven’t been able to in the past due to what Case described as “friction,” like costs related to establishing proximity hosting, shipping and managing an IP structure.

“These expansions are aimed at reducing the friction,” he said. “That makes it easier for trading firms to establish a trading presence in these markets.”

Also, the expansions are aimed at the flip-side of the market: European firms wanting to do business in the United States.

CFN has expanded its resources at its London office to support the expansion of these services, as well as the marketing.

Later in the year, CFN plans to expand into other European markets and soon after into Asia.

This story first appeared on the Securities Technology Monitor web site.

 

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