ALGO Technologies is launching today to deliver next generation trading technology solutions with a particular focus on algorithmic trading, execution and market data services.

Hirander Misra a founder and former COO of Chi-X Europe, is the newly appointed CEO and a founding director of ALGO Technologies, which has offices in London and New York. Howard Morgan, president of Arca Group has been appointed as non executive chairman.

The new company is building a dark fibre network to ensure high speed market data and connectivity across international market centres, in multiple data centre locations to offer near-zero latency market data, trading and matching solutions.

Mr Morgan said: “We see enormous potential for our breakthrough technologies in international markets, and we are very pleased to announce the formation of Algo Technologies and we are particularly pleased that this will be led by Mr Misra as CEO.”

Mr Misra said: “We believe that there is increasing demand for ultra low latency trading software and services. Most vendor solutions do not adequately meet this need and are far too expensive. Algo Technologies will roll out products that create a sea change in speed and automation for the trading community. We will shortly be announcing differentiated low cost solutions for significantly faster market data, direct market access, smart order routing and cutting edge execution technology.”