Networking services provider Colt and Korean financial IT provider Koscom have teamed up to build a global securities network that will provide ultra-low-latency connectivity between capital markets participants in Korea and the world’s major stock and derivatives exchanges.
Koscom will use Colt’s low-latency global network service infrastructure to complement its own exclusive financial network in Korea (“Stock-Net”). The multi-year agreement will leverage each other’s local and global network and exchange colocation footprints, as well as the respective sales and service operation resources in Korea and around the globe.
This arrangement will also create further opportunities to develop integrated financial IT and market data solutions for Korean capital markets in the future, including Colt Prizmnet, the financial extranet developed by Colt, and Koscom’s securities brokerage hub (“STP-Hub”).
With support for English, Japanese and Korean, this new platform will allow local brokerages and investors from foreign institutions to benefit from more reliable and cost-effective connectivity when trading at Korea Stock Exchange (KRX), one of the world’s top exchanges in terms of derivatives trading volume.
Masato Hoshino, vice president and head of Product Management at Colt, said: “This partnership opens an even wider path to future mutual growth for us, and more importantly, for investors looking to tap into the wealth of opportunities in the Korean capital markets ecosystem.”
Jae Wook Eom, Koscom’s Sales Division head, said: “This global securities network partnership will enable Korean domestic securities and futures companies to leverage high-quality and low-cost infrastructure for offering their financial services to exchanges around the globe, including Japan, Southeast Asia, the US, and Europe. At the same time, international investors will also be able to reduce their costs when launching business initiatives in Korea. This will key in accelerating the globalization of Korean capital markets.”