Swiss-founded fintech PrimeXM has added a new trading data centre in Singapore to join its London, New York and Tokyo centres.
PrimeXM’s Equinix SG1 went live in May this year allowing hedge funds, brokers, non-bank liquidity providers and banks to add Singapore to the list of major global FX trading centres. They can utilise PrimeXM’s XCORE technology as well as PrimeXM’s Infrastructure solutions for hosting their own proprietary trading systems.
Alexis Droussiotis, Chief Information Officer (CIO), stated:
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.
The company also underwent a compliance readiness assessment based on the Association of Banks in Singapore (ABS) Guidelines for Outsourced Service Provider Audit Report (OSPAR) by PwC.
This audit report is the framework that external auditors use to validate the service provider’s controls against the criteria stated in the guidelines of the association.
The readiness assessment PrimeXM has completed testifies that its XCORE and Managed Infrastructure Hosting servicess set of security controls meet services meet the ABS Guidelines. Apart from the added assurance it provides to the financial services customers, it also demonstrates continued efforts in reaching high standards in its facilities as well as in deploying compliant financial services solutions. PrimeXM also revealed it will be pursuing ABS OSPAR attestation in the coming months.
Since May 2018, PrimeXM is also ISO 27001 certified and goes through annual audits based on the ISAE 3000 assurance standard on confidentiality, security, and privacy of information.
PrimeXM recently released its monthly metrics for June 2021. The broker reported a total of $1.04 trillion in total trading volumes registered last month across the 3 major Data Center locations with an uptick since last month, up by 10.5%MoM.
