ONCHAN, Isle of Man, April 18, 2021 /PRNewswire/ -- Financial technology leader ParagonEX announced today that it aims to move hosting of all its services to carbon-neutral hosting sites in order to mitigate their effect on the environment.
ParagonEX has come to terms with the fact that its trading servers, as well as other hosted services it offers to customers, has a significant carbon footprint which can be offset or avoided.
As part of a two-year plan to go completely green, a variety of hosting services were looked into and a final decision was made resulting in seamless switching between current and future hosting service.
Simon Duggan, ParagonEX's CEO said: "We need to be socially responsible in our actions, both on the trading/customer-facing side and on the global responsibility side. One cannot ignore the fact that high electricity consumption has a detrimental effect on the environment, and companies must take responsibility for minimizing their carbon footprint."
He added saying "Considering the medium and long-term plan ParagonEX has and the increased visibility we are expecting due to the above, these moves are not only needed for us, but will also serve as an example for other companies in our field".
ParagonEX is an Isle of Man-based financial technology company established in 2008 with the goal of providing an off-the-shelf, robust trading platform and a back-office solution to brokers. Committed to creating a secure umbrella solution for brokerage firms, irrespective of their size, ParagonEX has become the technology provider of choice for CFD trading globally. Its solutions are today in use throughout Europe, Australia, and the Middle East. For more information, please visit paragonex.com.