Aquis Exchange Ltd. leased space in the Equinix Inc. (EQIX:US) data center as the pan-European trading venue founded by former Chi-X Europe Ltd. Chief Executive Officer Alasdair Haynes prepares to open.
Aquis will locate its main data center at Equinix’s Slough campus, west of London, Equinix said in a statement today. The venue offers access to more than 30 European markets and 80 exchanges and trading systems, according to Equinix.
“LD4 is the best-connected financial hub in the U.K.,” Haynes, who announced in October that he would set up in competition with his former employer, said in the statement.
The European Union’s Markets in Financial Instruments Directive in 2007 allowed alternative trading systems to compete with traditional exchanges such as Deutsche Boerse AG and NYSE Euronext (NYX:US), sparking a fight for market share.
Aquis will offer so-called co-location services, enabling customers to place servers near an exchange’s systems. The setup allows firms to reduce the time it takes to receive an execution or confirm that an order was canceled. London-based Aquis will give traders a choice of who provides clearing services for their transactions.
Before Chi-X, Haynes was the CEO of New-York based Investment Technology Group Inc.’s international business in London. He left ITG in 2009 after a decade. Haynes has traded stocks and derivatives over 30 years, including stints at Morgan Grenfell, Bankers Trust and UBS AG, where he was responsible for European listed derivatives.
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