The service will replace ASX’s existing customer network, ASX Nippa.
Australian technology firm Pipe Networks will provide the network’s high bandwidth dark fibre.
The service will support the transfer of multiple data feeds and allow clients to determine the products, services and liquidity they wish to access, across all ASX markets.
David Raper, ASX’s general manager for trade execution and information services, said in a statement: “ASX Net will offer clients expanded network capacity through greater bandwidth, lower latency via fibre optic cabling and multiple connectivity options with access to ASX and third party services and venues.
“ASX Net supports the current and future growth of Australian financial market data without the requirement for disruptive bandwidth upgrades. In an environment with escalating capacity demands and a need for latency minimisation to remain competitive, ASX Net provides an access solution for Australian financial market participants for today and into the future.”
Pipe Networks Group’s chief operating officer, Jason Sinclair, said: “In selecting dark fibre, ASX has joined the global convergence toward high bandwidth, low latency telecommunications solutions, particularly in the finance industry. We will deliver a hard-spliced dark fibre network, leaving ASX free to ‘light’ the fibre with its own network equipment and control the speeds it requires.”
FOW’s feature ‘Asia and Latin America: the new frontier for algo trading’ in May contained some inaccurate figures for ASX’s matching speeds. ASX says the present matching speed is 3 to 5 milliseconds. This is intended to be cut to 250 microseconds when ASX introduces its new ASX Trade platform next year.