Pico Provides Normalized Market Data to First Asian Markets
Financial technology concern Pico will provide access to normalized market data for the Shanghai Stock Exchange (SSE) and the Shenzhen Stock Exchange (SZSE) through its newly acquired Redline Trading Solutions (Redline), making it the firm’s first expansion beyond U.S. and European markets, according to a public statement.
Redline is a high-performance trading and market software solution. The solution delivers ultra-low latency software and common APIs to support access to market data and order execution on over 180 venues. The solution is underpinned by real-time market data normalization, aggregation, and delivery system and is delivered over its proprietary network.
“Redline empowers clients’ trading by simplifying access to liquidity through highly optimized software. We are pleased to start our expansion into APAC with access to normalized SSE and SZSE market data. These are the first of many new markets Pico plans to add to extend Redline’s capabilities globally,” said Mark Skalabrin, President, Redline. “The further integration of Redline into Pico’s comprehensive global ecosystem of best-in-class technology and services will both complement and transform existing propositions and deliver greater value and services to clients.”
Pico’s Redline solution will provide normalized low-latency SSE and SZSE market data, with the performance benefit of direct feeds but without the challenges of exchange connectivity and feed protocol changes.
Pico acquired Redline in January 2022. The acquisition marked a key milestone in Pico’s vision to become a leading provider of technology, software, data and analytics solutions to the financial markets.