Buoyed by an increase in its business, PrimeXM has launched a new data center in Singapore.
This new data centre joins the existent data centers located in London, New York and Tokyo, the FX trading industry technology provider said.
With this launch, hedge funds, brokers, non-bank liquidity providers and banks can add Singapore to the list of its data centres by using XCore technology, which is powered by PrimeXM.
Also, the firm pointed out that the data centre went under a compliance readiness assessment based on the Association of Banks in Singapore Guidelines for Outsourced Service Provider Audit Report (ABS OSPAR) by PwC.
The data centre is installed in PrimeXM’s infrastructure in Equinix data centres, allowing for the efficient management of the entire brokerage business in a centralised environment and went live in May 2021.
“PrimeXM continues on its path of professionalism, reliability and concrete growth. Now, we are proud to say that PrimeXM offers global coverage with 4 state-of-the-art trading data centres. This will not only allow us to cater to our existing clients’ needs within the APAC region but also expand within the region and continue our successful expansion,” said Alexis Droussiotis, Chief Information Officer (CIO).
PrimeXM’s total trading volume for the period across the three major data center locations was $1.04 trillion, increasing by 16.45 per cent on a year-over-year basis, according to its June-ended monthly trading volume report.
This translates to an increase when compared to last year’s figure of $869.77 billion. In the average daily volume (ADV) case, PrimeXM reported $47.31 billion for June whose highest daily trading volume was on June 17 with $67 billion in turnover.