Imported from previous forum
CHI-EAST JOINS WITH TNS TO BOOST GLOBAL CONNECTIVITY
13 December 2010 – Financial market participants across Asia can now seek dark pools of liquidity throughout the region, thanks to a new agreement between Chi-East, the first Asian exchange backed non-display venue, and global connectivity provider Transaction Network Services (NYSE:TNS).
Chi-East, a joint venture between Chi-X Global and the Singapore Exchange, supports the non-displayed trading of securities in Hong Kong, Singapore and Japan. Using TNS’ Secure Trading Extranet, Chi-East will be able to provide its clients with a single trading connection, giving them access to multiple liquidity sources, enhancing intra Asia connectivity between financial institutions.
TNS’ Secure Trading Extranet offers mission-critical low latency connectivity, bringing together one of the world’s largest financial communities of interest, spanning four continents. Chi-East’s clients will now have the ability to set up the connections with other Asian financial institutions in as little as three working days.
Ned Phillips, CEO of Chi-East, said: “We are excited to launch the first exchange backed non-displayed venue in Asia. Financial market participants in Asia are continuously striving to access liquidity across the region, so we needed a provider who could offer fast, secure and resilient connectivity. TNS provides us with a cost effective process that strengthens our links with our participants. Its community of interest helps us to extend our reach in Asia.”
Alan Schwartz, President of TNS’ Financial Services Division, said: “Liquidity plays a crucial role in the industry today and we are delighted to be helping Chi-East take advantage of the buoyant Asian market. Chi-East has generated a lot of interest within the industry and we are looking forward to providing them, and their customers, with high availability, low latency connectivity to support their electronic trading needs.”
TNS’ Secure Trading Extranet connects over 1,600 financial community end-points, representing buy-side and sell-side institutions, market data and software vendors, exchanges and alternative trading venues, via more than 115 points of presence. TNS provides services in over 40 countries across America, Europe and the Asia Pacific region, with its reach extending to many more.
For more information about TNS visit www.tnsfinancial.com
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About Transaction Network Services
Transaction Network Services (TNS) is a leading global provider of data communications and interoperability solutions.
TNS offers a broad range of networks and innovative value-added services which enable transactions and the exchange of information in diverse industries such as retail, banking, payment processing, telecommunications and the financial markets.
Founded in 1990 in the United States, TNS has grown steadily and now provides services in over 40 countries across the Americas, Europe and the Asia Pacific region, with our reach extending to many more. TNS has designed and implemented multiple data networks which support a variety of widely accepted communications protocols and are designed to be scalable and accessible by multiple methods.
For further information about TNS, visit www.tnsi.com. ‘One Connection, A World of Opportunities’
Statements and information contained in our press releases and newsletters that are not descriptions of historical fact may contain forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond our control, which could cause actual results to differ materially from historical results or performance and from any opinions or statements expressed with respect to future periods. www.tnsi.com
For further information please contact:
Clare Cockroft
TNS
Tel: +44 (0)114 292 6416
Tel US: +1 703 814 8065
ccockroft@tnsi.com