PrimeXM Deploys a New Data Center in Singapore

FX trading industry technology provider, PrimeXM announced on Thursday that it has launched a new data center in Singapore. According to the company, the new equipment joins the existent data centers located in London, New York and Tokyo.

The new data center, hosted in Equinix SG1, went live in May 2021. From now on, hedge funds, brokers, non-bank Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term providers and banks can add Singapore to the list of its data centers by using XCore technology, powered by PrimeXM. Also, the firm stated that the data center 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.

“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 centers. 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,” Alexis Droussiotis, Chief Information Officer (CIO), commented.

Furthermore, PrimeXM pointed out that it seeks to pursue an ABS OSPAR attestation in the coming months.

Recent Trading Volumes Report

Yesterday, the technology provider published its monthly trading volume report for June 2021. As Finance Magnates reported, PrimeXM’s total trading volume for the period across the three major data center locations was $1.04 trillion, increasing by 16.45% on a year-over-year basis. The number is up 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.

Also, early this year, Multi-regulated FX and CFDs broker, Accuindex went live with PrimeXM’s proprietary order routing service, the XCore. The service is installed in PrimeXM’s infrastructure in Equinix ‎data centers, allowing for the efficient management of the entire brokerage business in a centralized environment.‎