NYSE Euronext has set up a European data center near London, Financial Times reports. The new data center will enable third-party co-location service providers to conduct trades without passing through the exchange’s telecom network, leading to quicker transactions.

Third party telecom providers can build their own networks into the site, allowing high-speed connectivity service to the NYSE matching engine. The move will help exchanges draw and hold on to high-frequency trading companies. The launch of the London centre will have an impact on the firm’s data centre in Basildon.

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Click here for additional coverage from The Associated Press.