The bank's securities brokerage is working with the financial markets technology services provider, which will provide managed services and support for its new trading platform.
Pico rapidly «deployed a tailored platform for trading execution in the heart of Singapore’s liquidity hub that is engineered for seamless coordination of trading and risk strategies,» it said in an announcement on Wednesday.
UOB Kay Hian is one of Asia's largest securities trading and investment firms. Headquartered in Singapore, it has offices in Hong Kong, Thailand, Malaysia, London, Shanghai, and New York.
Working with Pico has helped UOB Kay Hian lower its OpEx, while freeing it to focus on optimizing its trading strategies and business operations, said director Desmond Yeo.
Asia Growth
Pico works with firms as a specialist partner to design, build, host and manage their electronic trading infrastructure. It connects to liquidity providers via PicoNet, a private ultra-low latency, resilient and comprehensive proprietary network mesh with the fastest path connections between on-net co-location sites.
Pico opened offices in Singapore and Tokyo in mid-2018, and a year later announced its continued expansion in Asia with new hires, additional offices, and an increased data center presence in the region.
The firm said it has plans to add 20 more data centers by 2021, including in China, Australia, South Korea and India, to complement its existing 30+ global locations.
