NetSource Targets Proximity Trading In Chicago With New Space

netsource-cabs

Some of the cabinets inside the new NetSource data center in Illinois. (Source: NetSource)

Colocation provider NetSource is adding new space in Naperville, IL outside of Chicago, targeting proximity trading at the Chicago Mercantile Exchange (CME) data center in Aurora and at 350 E. Cermak, the primary data hub for downtown Chicago. The new expansion includes room for an additional 3,500 rack mountable servers.  Space is now available by the U to full rack.

The company has a 15,000 square foot facility with over 8,500 of raised floor including 1.6 megawatts of generator power. The new space comes just in time, as the company is 95 percent full in its data center space located in the same building, and is looking forward to moving customers into the new data center space. The new space has the existing N+1 redundancies that the existing data center has and it is covered under the company’s annual SSAE16 Type II compliance.

The company is looking for clients in need of 1ms and 2ms (millisecond) proximity trading to the Chicago and Aurora facilities. The space is located between 350 E. Cermak  (adjacent to the Chicago Board of Trade - CBOT and Chicago Mercantile Exchange - CME), or the new CME data center in Aurora, for proximity financial trading. The company has a direct 10 Gbps direct connection to 350 E. Cermak, and is physically located a half-mile from the CME facility.

It’s ideal for proximity trading needs, more specifically for those that can’t necessarily afford to pay the heavy premium of up to $10,000 per rack to be located within CME Aurora. The company says smaller financial companies would have a window for faster ping times to these facilities.

The Chicago and neighboring residential data center markets continue to grow. NetSource is positioned to offer up space to those that need close proximity to downtown and financial hotspots without necessarily being there, as downtown tends to be strapped for space, as well as much more expensive.