Equinix, Telx Power New Stock Exchange

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Direct Edge became America’s newest stock exchange last week, when it launched two exchange platforms and commenced trading across all listed stock symbols. Direct Edge’s conversion from an electronic communications network (ECN) to a stock exchange is supported by a new data center platform.

Direct Edge’s new system will be able to handle 220,000 messages every second, which equates to up to 2.5 billion transactions a day. Direct Edge’s primary platform is housed at an Equinix data center in Secaucus, N.J., with a backup facility operated by Telx in Clifton. “Our customers can benefit from our new, next-generation exchange platforms and infrastructure that have been designed to improve the latency, consistency, throughput, and performance of our markets and enhance overall user experience,” said William O’Brien, Chief Executive Officer of Direct Edge.

Here’s a review of some of the noteworthy coverage of the launch of the Direct Edge exchange:

  • A-Team Group – Direct Edge is locating its new platforms- at Equinix’s NY4 data centre in Secaucus, NJ, with a backup facility operated by Telx in Clifton, NJ. “Our customers can benefit from our new, next-generation exchange platforms and infrastructure that have been designed to improve the latency, consistency, throughput, and performance of our markets and enhance overall user experience,” says Direct Edge CEO William O’Brien.
  • Wall Street & Technology – Direct Edge Chief Executive William O’Brien said a new data center launched during the conversion opens a new battle front with competitors in selling trading data to increasingly hungry investors. “That’s something we view as a way to broaden our competitive footprint,” O’Brien said.
  • Advanced Trading – “In terms of the mean latency … I think you’ll see us extremely competitive with that of our peers,” O’Brien said. “It’s impossible to do an apples to apples comparison because they may be testing under lower conditions than you are. But everything I’ve seen, at least internally, so far means we’ll be ultracompetitive with respect to the latencies of our system.”

In this video from earlier this year, Telx Director of Sales Engineering Kevin Strasheim provides an overview of the features of the Direct Edge data center in Clifton, as well as space that will provide expansion for Telx and its customers. This video runs about 6 minutes.

For more information, see our Low Latency Trading Channel. For more video, check out our DCK video archive and the Data Center Videos channel on YouTube.

About the Author

Rich Miller is the founder and editor-in-chief 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.