NEW YORK, December 8, 2021 - Pico, a leading provider of mission critical technology, data and analytic services for the financial markets community, has further invested in its managed colocation facility at Japan Exchange Group, Inc. (JPX), launching shared managed hosting with ultra-low latency connectivity to Tokyo Stock Exchange (TSE), Tokyo Commodity Exchange (TOCOM) and Osaka Exchange (OSE).
Japan is among one of the many global trading locations where Pico offers its ultra-low latency solution that supports clients with latency-sensitive trading strategies that require highly accurate views of the market and faster execution times. Utilizing high-performance Layer 1 switching technology, Pico can achieve more than 80 percent reduction in round trip latency. The solution is supported by Pico’s global engineering expertise and is instrumented with its best-in-class Corvil Analytics1, assuring operational performance and transparency. In JPX, Pico can now offer ultra-low latency JPX group market data delivery with a latency as low as 5ns.
Pico’s JPX colocation infrastructure is connected to PicoNet™, its resilient proprietary global network providing connectivity to JPX from other data center locations on PicoNet™ in APAC, as well as in Europe and the Americas. Pico is an authorized distributor of raw and normalized TSE, OSE and TOCOM market data and will also provide raw historical data, a comprehensive and resilient tick data solution captured at source in native exchange format.
“The JPX ecosystem continues to attract interest from clients, and we are pleased to build on the success we have established with our existing services in Japan through this additional shared hosting option,” said Roland Hamann, Chief Technology Officer & Head of APAC at Pico. “The investment will enable a wider number of clients to enter this market with the benefits of fast and reliable connectivity, operational excellence and lower upfront costs. In addition, our local staff and expertise will help clients familiarize themselves with the Japanese markets faster.”
Pico has built a comprehensive Asia Pacific (APAC) offering and, in 2021, added Australia (ALC, SY2), and China (SSE, SZSE) to its global footprint. With support from local on-site engineering and data center management expertise, Pico now serves electronic trading participants across the APAC region, with comprehensive connectivity and venue presence spanning Singapore (SGX, SG1, SG3), Hong Kong (HKEx, HK5), Japan (JPX, CC2, TY3), the Republic of Korea (KTY, BUSAN) and Taiwan (TWSE, BQ). Further, Pico’s performance, innovation and achievements in the region were recognized through the “Connectivity Provider of the Year” award in the FOW and Global Investor Asia Capital Market Awards 2021.
1Source: Info-tech Research Group Network Monitoring Industry Scorecard 2020
On August 4, 2021, Pico announced that it had entered into a definitive agreement for a business combination with FTAC Athena Acquisition Corp. (Nasdaq: FTAA), a special purpose acquisition company. Upon closing of the transaction, the combined company will operate as Pico. The transaction reflects a pro forma enterprise value for the combined company of approximately $1.4 billion. The business combination, which has been unanimously approved by the boards of both Pico and FTAC Athena, is targeted to close in early 2022, subject to stockholder approvals and other customary closing conditions.
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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