Avelacom joins STAC Benchmark Council to design IT infrstructure for crypto markets

Rick Steves

“Demand for low latency access to public clouds has been steadily growing and this is driven by continued institutional adoption of digital assets.”

Avelacom has become a member of the STAC Benchmark Council, comprising more than 400 financial institutions, including the world’s largest global banks, brokerages, exchanges, hedge funds, proprietary trading shops, and asset managers, as well as more than 50 vendors of hardware, software, cloud technologies, and services.

STAC stands for Securities Technology Analysis Center and the Council discusses important technical challenges and solutions in financial services and develops technology benchmark standards.

Financial firms design STAC Benchmarks to address their most pressing technical needs, with input from leading vendors.

Avelacom focuses on low-latency and cloud connectivity

The low-latency connectivity, IT infrastructure, and data solutions provider will provide its expertise based on its track record of setting up low-latency IT infrastructure for crypto markets that are associated with public clouds.

Only a handful of firms have pioneered high-performance, low-latency network solutions for TradFi institutions that use physical dedicated IT infrastructure and that also need the same quality of solutions to access crypto markets located in public clouds.

Aleksey Larichev, CEO of Avelacom said: “Demand for low latency access to public clouds has been steadily growing and this is driven by continued institutional adoption of digital assets. Public cloud infrastructure provides great opportunities in terms of entry costs, ease of setup and scalability. But still, the market needs better transparency and latency benchmarks since most of the participants are new to public clouds. We are glad to join the STAC Benchmark Council and share our experience and insights as well as be involved in tests with our peers. We hope our efforts will help to mature the crypto markets’ critical network infrastructure.”

Peter Nabicht, President of STAC, said: “We are very pleased to welcome Avelacom to the STAC Benchmark Council. The problems on which Avelacom focuses — low-latency and cloud connectivity — are important challenges for many financial firms.

Read this next

Retail FX

Malaysia regulator exposes OctaFX clone, shady FB profiles

Malaysia’s financial regulator today warned online investors about the risks of following investment tips made on social-media platforms.

Digital Assets

Crypto trading volume spikes at Swiss bourse amid FTX collapse

The shockwaves from the historic collapse of Sam Bankman-Fried’s crypto empire are still being felt across the industry, but some trading venues are actually doing better because of it.

Executive Moves

CMC Markets adds Camilla Boldracchi to institutional sales

UK’s biggest spread better, CMC Markets has promoted Camilla Boldracchi to take on an expanded role within its institutional sales desk.

Institutional FX

FXSpotStream reports $1.48 trillion in monthly volume for November

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for November 2022, which moved higher on a yearly basis but reflected weak performance across executed trade volumes when weighed against the figures of the prior month.

Retail FX

Interactive Brokers’ client activity drops 30% YoY

Interactive Brokers LLC (NASDAQ:IBKR) saw 1.95 million daily average revenue trades, or DARTS, in November 2022 compared to 1.96 million transactions in the prior month.

Digital Assets

The rise of Crypto ETPs in traditional exchanges as crypto winter deepens

Institutional investors are increasingly looking at traditional regulated exchanges as their first route into digital assets amid market turmoil caused by the crypto winter and the collapse of several big names within the space, including FTX. Acuiti and Eurex surveyed 191 buy and sell-side firms on their views of the digital assets markets in order […]

Digital Assets

TP ICAP’s crypto arm receives FCA’s go-ahead

UK interdealer broker TP ICAP has received a regulatory go-ahead to launch its cryptocurrency services in the UK. The bid shows that the recent collapse of FTX exchange has done little to damp the interest of big names in running their own crypto business.

Industry News

Coin Signals founder to pay $2,847,743 after prison sentence over crypto Ponzi scam

The U. S. District Court for the Southern District of New York has ordered Jeremy Spence, founder of Coin Signals, to pay $2,847,743 in restitution to victims of a fraudulent virtual currency scheme.

Digital Assets

CME Group goes DeFi: Reference rates and real-time indices of Aave, Curve, Synthetix

“These rates are designed to provide traders, institutions and other users transparency and price discovery across a much broader range of tokens, allowing them to confidently and more accurately value cryptocurrency sector specific portfolios and manage price risk around various blockchain-based projects.”