MUMBAI, INDIA: Thomson Reuters today launched Elektron, its next generation real-time network and hosting environment, in India to meet the strong demand for fast and cost-effective access to this important emerging market.

Elektron is a global network and hosting environment that enables financial firms to access and share information faster and more cost effectively. Hedge funds, asset managers, banks, brokerages, exchanges and other participants would be able to connect to the financial community and securely reach trading partners over the network.

Working in collaboration with Netmagic Solutions Pvt. Ltd, the new facility at the Bombay Stock Exchange will provide co-location hosting with a managed application environment, low latency connectivity to local market data and access to the Elektron global real-time network.

By aligning with the Bombay Stock Exchange’s data centre a strategy, Thomson Reuters is able to extend its Elektron network within Asia, building on the launch of hosting sites in Tokyo, Hong Kong and Singapore announced earlier this year, said a press release.

This latest addition to the Elektron network delivers the fastest access to the Bombay Stock Exchange, reducing client’s time to market, infrastructure footprint and maintenance costs by outsourcing parts of their development and data distribution capabilities to Thomson Reuters.

“Financial institutions are becoming increasingly sophisticated in their trading strategies for the Indian market and this is driving demand for our low latency solutions,” said Mike Powell, global head of Enterprise Real Time Solutions, Thomson Reuters.

Madhu Kannan, Bombay Stock Exchange managing director and CEO added, “ This is an exciting new initiative for the Indian financial market as we announce our new co-location strategy with the aim of supporting our customers’ evolving trading strategies.”