Mumbai (ACN Newswire) - Thomson Reuters today launched Elektron, its next generation real-time network and hosting environment, in India to meet the strong demand for fast and cost-effective access to this important emerging market. Working in collaboration with Netmagic Solutions Pvt. Ltd, the new facility at the Bombay Stock Exchange will provide co-location hosting with a managed application environment, low latency connectivity to local market data and access to the Elektron global real-time network.
By aligning with the Bombay Stock Exchange's data centre strategy, Thomson Reuters is able to extend its Elektron network within Asia, building on the launch of hosting sites in Tokyo, Hong Kong and Singapore announced earlier this year. This latest addition to the Elektron network delivers the fastest access to the Bombay Stock Exchange, reducing client's time to market, infrastructure footprint and maintenance costs by outsourcing parts of their development and data distribution capabilities to Thomson Reuters.
Thomson Reuters Elektron is a global, ultra-high speed network and hosting environment that enables financial firms to access and share information faster and more cost effectively. Hedge funds, asset managers, banks, brokerages, exchanges and other participants will for the first time, be able to connect to the world's largest financial community and securely reach trading partners over the network.
Thomson Reuters will deploy its award winning direct feed technology for the Indian cash equity markets as well as providing access to their Elektron network of over three hundred electronic trading venues worldwide, global over-the-counter and news content. Connection to the Bombay Stock Exchange's low latency feed will provide comprehensive real-time market data for all stocks listed on the exchange, including prices, indices and volume for up to five levels of market depth.
Mike Powell, Global Head of Enterprise Real Time Solutions, Thomson Reuters, said: "Financial institutions are becoming increasingly sophisticated in their trading strategies for the Indian market and this is driving demand for our low latency solutions. We are therefore delighted to be working with the Bombay Stock Exchange and Netmagic to facilitate improved access for trading participants as we look to set new performance benchmarks for market connectivity and managed services across the region through the Elektron cloud."
Sharad Sanghi, Managing Director and CEO of Netmagic Solutions, said: "We are excited to collaborate with Thomson Reuters to deliver our best in class managed services to support mission critical environments of the financial community. As a part of this agreement customers will be able to access Thomson Reuters Elektron services across all our carrier neutral data centres in India."
Madhu Kannan, Bombay Stock Exchange Managing Director and CEO, said: "This is an exciting new initiative for the Indian financial market as we announce our new co-location strategy with the aim of supporting our customers' evolving trading strategies. We are also pleased to be working with a global partner such as Thomson Reuters and the Elektron network as we share the goal to deliver world class services to our mutual client base."
About Netmagic Solutions
Netmagic Solutions is India's leading Managed IT Service Provider, specializing in Internet Data Center & Managed Hosting, Infrastructure Management, Managed Security, Cloud Computing, Application Hosting, Messaging & Collaboration, Disaster Recovery & Availability and Professional Services.
Netmagic Solutions is ISO 27001 certified and its processes are designed as per ITIL framework. Combining world class Internet Data Centers with advanced technology and professional service capabilities, Netmagic Solutions delivers mission critical hosted applications for over 900 of the world's best-known enterprises from multiple locations in a secure and seamless manner.
Netmagic has multiple carrier-neutral Data Centers located in Mumbai, Bangalore, and Chennai as well as a virtual data center in the United States. These are equipped with best-in-class infrastructure, world-class services, tools and skilled personnel, giving its customers the option to host their applications in any of these centers. Netmagic assures mission-critical support to its customers in association with its ecosystem of channel and alliance partners.
For more information visit www.netmagicsolutions.com.
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs 55,000 people and operates in over 100 countries. For more information, go to www.thomsonreuters.com.
Daniel Billings, Public Relations, Asia
P: +852 2843 6911