Montreal and London - Object Trading has expanded its Direct Market Access (DMA) Service Platform with the announcement that fully managed services are now available at TMX Group's co-location centre for access to the Montréal Exchange (MX).
With fully managed services provided at TMX Group's co-location centre, Object Trading aims to facilitate the relationships between the buy-side and sell-side, enabling them to access liquidity where it is growing, and to create liquidity where opportunities await. Object Trading's clients now have production access to 7 co-location centres and over 60 markets worldwide, without needing to additionally invest in trading infrastructure, hardware, software or maintenance.
Object Trading has been a DMA connectivity provider to the MX for twelve years. Recently, many banks have been shrinking or closing their Futures Commission Merchant (FCM) units to reduce costs, resulting in a retreat from the international markets. In response, Object Trading's DMA Service Platform provides a solution to help sell-sides reconfigure their prime brokerage and clearing businesses. Object Trading's platform also enables buy-sides to provide their own market access, independent of their prime service relationships, choosing specialist FCMs that best serve their account size, leverage requirements, geographical, and asset class needs.
Object Trading's platform offers turnkey, low-latency, co-located market access, featuring a single gateway for normalised market data and order execution. Dan Hubscher, Object Trading's Director of Strategy, added, "Our conformed broker community has its execution, clearing, and risk management infrastructure in place, and its related client onboarding processes active, on the Object Trading platform." Brokers on the platform are immediately ready to take client business and facilitate trade execution and clearing services for clients accessing exchanges on the Object Trading platform, which now includes managed, co-located access at the MX.