NEW YORK – March 09, 2022 - Pico, a leading provider of mission critical technology, software, data and analytic services for the financial markets community, has achieved an early key expansion milestone for Redline Trading Solutions (“Redline”), the high performance trading and market data software provider it recently acquired in January 2022. The addition of normalized market data for Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) extends Redline’s global coverage beyond US and European markets.
"Redline empowers clients’ trading by simplifying access to liquidity through highly optimized software. We are pleased to start our expansion into APAC with access to normalized SSE and SZSE market data. These are the first of many new markets Pico plans to add to extend Redline’s capabilities globally," said Mark Skalabrin, President, Redline. “The further integration of Redline into Pico’s comprehensive global ecosystem of best-in-class technology and services will both complement and transform existing propositions and deliver greater value and services to clients.”
With the SSE and SZSE ranked among the largest exchanges in the world1, China is an important market for European and North American investors. Pico’s fully managed RedlineFeed™ simplifies access to these venues through optimized software and common APIs. The solution provides normalized low-latency SSE and SZSE market data, with the performance benefit of direct feeds but without the challenges of exchange connectivity and feed protocol changes. Pico’s RedlineFeed™ is underpinned by real-time market data normalization, aggregation, and delivery system InRush™ Ticker Plant, and is delivered over its resilient proprietary network, PicoNet™.
The service is available at Pico’s colocation facility at the Hosting Services Data Centre of Hong Kong Exchanges and Clearing Limited (HKEX), where Pico delivers SSE and SZSE market data over PicoNetTM for receipt and consumption across global regions. Pico will provide customized managed infrastructure solutions including infrastructure procurement, connectivity, market data and hosting, all supported by on-site engineering and data center management expertise.
“The electronification of markets and the need for global borderless trading and data access are among the key macro trends impacting the financial markets. Pico’s high capacity, low-latency, resilient global network, which connects and provides access to all liquid markets, supports clients to harness new opportunities,” said Roland Hamann, Head of APAC at Pico. “Applying our expertise and global capabilities to rapidly launch two China venues, highlights our commitment to increasing Redline’s coverage for both real-time and historical market data, distributed globally for consumption anywhere via our network.”
Pico’s acquisition of Redline’s high performance, multi-asset software solutions has further advanced its vision to become the premier provider of technology, software, data, and analytics solutions to the financial markets globally.
1 Statista: Largest stock exchange operators worldwide as of December 2021, by market capitalization of listed companies
Pico is a leading provider of technology services for the financial markets community. Pico provides a best-in-class portfolio of innovative, transparent, low-latency markets solutions coupled with an agile and expert service delivery model. Instant access to financial markets is provided via PicoNet™, a globally comprehensive network platform instrumented natively with Corvil analytics and telemetry. Clients choose Pico when they want the freedom to move fast and create an operational edge in the fast-paced world of financial markets.
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