Goldman Sachs Investment Helps HFT Network Firm Expand in AsiaEduard Gismatullin
Perseus, a technology company partly owned by Goldman Sachs Group Inc., has expanded its network into Asia, increasing the options for high-frequency traders seeking to enter the region.
Helped by the bank’s $20.5 million investment earlier this year, Perseus has connected its U.S.-based network via Tokyo to Hong Kong, Mumbai and Manila, the company said in a statement on Tuesday. The telecommunications operator had its origins in providing services to high-speed electronic market makers -- the firms that provide the liquidity needed to make markets work.
“Speed matters and is a key advantage we provide our customers,” Perseus’s Chief Executive Officer Jock Percy said.
New York-based Perseus, which opened a Hong Kong office in March, plans to connect to the stock exchanges in Shanghai and Shenzhen later this year, Percy said last month. The company offers its financial clients a managed service called LiquidPath that provides them with the infrastructure needed to execute low-latency trading strategies.
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