Options IT Expands 'Trading as a Service'

The infrastructure as a service (IaaS) model is catching on in the world of high-speed financial trading, according to Options IT, which this week acquired the colocation business of BNP Paribas to expand its customer base and data center footprint. Options IT provides infrastructure for hedge funds and brokerages involved in low latency trading

As part of the deal, Options IT has also acquired regional data centers in California, Texas and New Jersey. The three data centers complement the firm’s 12 existing data centers across the US, the UK, Europe and Asia. Terms of the deal were not disclosed.

The acquisition comes as financial markets participants are increasingly scrutinizing the costs associated with managing trading technology in-house. “During the past 18 months, we’ve seen a tremendous shift among financial markets participants looking to expand the scope of their global business while minimizing their technology and IT maintenance costs,” said Nigel Kneafsey, CEO of Options IT. “Our Infrastructure-as-a-Service model provides clients with an optimal solution – a robust, flexible and cost certain platform on which to execute their global business strategies.”

Options IT’s IaaS offerings range from infrastructure and technology management for essential business operations to low-latency global connectivity and market data feeds for high-frequency hedge funds and proprietary trading shops.

Founded in 1993, Options IT has offices in the US, UK, Europe and Asia, Options IT offers global solutions to more than 120 hedge funds, broker/dealers, prop trading firms, fund of funds and private equity houses ranging from $50 million to $40 billion in size.

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About the Author

Rich Miller is the founder and editor at large of Data Center Knowledge, and has been reporting on the data center sector since 2000. He has tracked the growing impact of high-density computing on the power and cooling of data centers, and the resulting push for improved energy efficiency in these facilities.

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