Datacentre firm receives its business license as a WFOE from Shanghai authorities to provide technology services in China
Pico, a provider of technology services for the financial markets community, continues to extend the reach of its globally comprehensive technology solutions with the formation of a wholly foreign-owned enterprise (WFOE), British Commercial Pico (Shanghai) Information Technology.
Through its new Chinese entity Pico can support firms seeking to access this important liquidity location. As China’s markets continue to open up to foreign institutional investors, many top global banks, funds and trading firms are seeking to increase their presence in the region that is home to some of the largest exchanges in the world. Last year, combined investments by foreign funds in Chinese stocks and bonds hit a record US$212 billion.
Located within proximity to the Shanghai Stock Exchange (SSE) data center and alternative trading locations in Shanghai, Pico’s operation is supported by local engineering and data center management expertise. Initially, Pico will provide proximity hosting and fulfilment services in Shanghai and Shenzhen for non-exchange members as well as market data via its colocation facility in the Hong Kong Exchanges and Clearing Limited (HKEX) data center. Pico has already built out and is operating network and infrastructure in Shanghai and Shenzhen for one of the select number of foreign investors allowed to trade within the Shanghai Stock Exchange (SSE) and the Shenzhen Stock Exchange (SZSE) colocations.
Pico has established comprehensive connectivity and venue presence across APAC serving electronic trading participants, all supported by local teams. Pico grew its APAC footprint in 2020 with new colocations in Taiwan and the Republic of Korea and expanded further in Japan, offering ultra-low latency access to the JPX colocation ecosystem.
Pico’s 47-strong data center presence traverses all key global market centers in the Americas, Europe and Asia along with mission critical exchange connectivity.
Tags: DatacentrePico
