Colt and Koscom to provide ultra-low-latency connectivity between Korea and global markets
Colt and Koscom, the leading financial IT provider in Korea founded by Korea’s Ministry of Finance and the Korea Stock Exchange, announced today a joint agreement to form a global securities network partnership that will provide ultra-low-latency connectivity between capital markets participants in Korea and the world’s major stock and derivatives exchanges.
As part of this collaboration, Koscom will use Colt’s extensive, high-quality and low-latency global network service infrastructure to complement its own exclusive financial network in Korea (“Stock-Net”). Both companies stand to benefit even further from this multi-year agreement by leveraging 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”).
The partnership is underpinned by technical and commercial support for mission-critical applications in multiple languages including English, Japanese and Korean. This 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.
Elaborating on the agreement, Masato Hoshino, Vice President and Head of Product Management at Colt, said: “This partnership marks another important milestone for Colt and Koscom. It highlights the close working relationship we’ve cultivated between our organizations since the launch of the Busan Proximity Data Center in 2012. Furthermore, it 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, especially considering that Colt is the only company to have established such an agreement with Koscom.”
Mr. 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 U.S., 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.”
Colt provides on-demand network and communications services to information–intensive businesses across Europe, Asia and North America. Founded in 1992, there are over 5000 Colt people in local offices across 21 countries. Customers include 18 of the top 25 bank and diversified financial groups and 19 out of the top 25 companies in both global media and telecoms industries (Forbes 2000 list, 2014). In addition, Colt works with over 50 exchange venues and 13 European central banks. Colt provides businesses with reliable business grade services backed by the right choice of technology, service and commercials. When it matters, customers choose Colt.
Colt operates across Europe, Asia and North America with connections into over 200 cities globally. It completed the acquisition of KVH in 2014 – which now operates under the Colt brand – an integrated data centre and communications services business, with headquarters in Tokyo and operations in Hong Kong, Seoul and Singapore.
Contact Colt for more details at firstname.lastname@example.org.
About Koscom Corporation
Koscom (Korean Securities Computer Corporation) was founded in 1977 by the Ministry of Finance and the Korea Stock Exchange to provide financial IT services in the Korean financial market. Since its founding, Koscom, the leading financial IT provider in Korea, has been a prime contributor to Korean financial market development by providing cutting-edge IT solutions in various areas including exchange systems to KRX, total enterprise systems for financial institutions, market data, and IT infrastructure services, such as business continuity and disaster recovery systems. Currently, Koscom is expanding its ambitions internationally and working with various clients from different countries to establish financial IT backbones and bring about revolutionary development in each respective financial market.
Find out more about Koscom at http://english.koscom.co.kr