Imported from previous forum
[ original email was from David N.W. Sawyer - david.sawyer@radianz.com ]
MAJORITY OF U.S. EXCHANGES AND ECNS USE RADIANZ’S MARKET INFRASTRUCTURE FOR FIX
NEW YORK (Oct. 15, 2003) – Radianz today said the majority of exchanges and electronic communications networks (ECNs) in the United States are using its market communications infrastructure to give financial institutions secure network access to their electronic trading applications.
Radianz is providing institutions with access to the three major U.S. stock markets, the largest U.S. futures exchange, the largest U.S. options exchange, as well as several regional stock and derivatives markets across the United States. Radianz also is providing access to the four major U.S. ECNs, which together account for more than 95 percent of the total ECN trading volume in the United States.
Today’s announcement follows the successful testing of Radianz’s first clients to use Radianz’s global financial extranet, RadianzNet, for access to NASDAQ’s SuperMontage trading system.
RadianzNet has established market infrastructure that is engineered for financial use and enables implementation of standards such as the Financial Information eXchange (FIX) protocol. FIX is used for indications of interest (IOIs), offers, order routing, the execution of trades, and allocations. In addition, RadianzNet is connected to more than 9,000 financial services sites worldwide, including client destinations that Nasdaq and Radianz’s other customers see as endpoints for their trading applications.
Glen Wolyner, executive vice president, NASDAQ Transaction Services, commented "NASDAQ is for the first time offering FIX-enabled access to SuperMontage via Radianz’s market communications infrastructure and other extranets. The use of RadianzNet increases the number of connectivity options that our firms have for access to SuperMontage and can further speed connection time to their systems."
Tom Jordan, president & CEO of Jordan & Jordan, a New York-based management consulting firm said, "NASDAQ and other execution venues are wise to leverage infrastructure provided by extranets in conjunction with FIX messaging standards. The combination of FIX and RadianzNet offers immediate connectivity to a multitude of firms with very high trading volumes and places market participants on a logical path to straight-through processing."
In addition to being a leader in providing market infrastructure to the U.S. equities segment of the financial industry, Radianz is serving a substantial number of equities players outside the United States and many foreign-exchange and fixed-income services across the straight-through processing chain on a global scale. Radianz’s more than 9,000 client sites worldwide use RadianzNet to access to the services.
About Radianz
Radianz (www.radianz.com) is an independent company with the world’s largest Internet Protocol (IP)-based network for the global financial services industry. The company uses its network, a global financial extranet called RadianzNet, to provide superior IP connectivity and services designed to meet the demands of professionals in the finance community. Radianz was established by Reuters (RTR.L) and Equant (NYSE: ENT) (Euronext Paris: EQU) in June 2000.
Radianz and the lighthouse logo are trademarks of the Radianz group of companies worldwide.
CONTACT:
Radianz
Marty Filipowski
+1.212.415.4678
marty.filipowski@radianz.com
Notes to editors:
Radianz provides access to the three major U.S. stock markets (NYSE, NASDAQ and Amex), the largest futures exchange (the Chicago Board of Trade), the largest options exchange (International Securities Exchange), as well as several regional stock and derivatives markets across the United States (ArcaEx, Boston Options Exchange, Boston Stock Exchange, Chicago Stock Exchange, and Pacific Exchange). Radianz also provides access to the four major U.S. electronic communications networks (ECNs), which together account for more than 95 percent of total ECN trade volume.
Radianz offers peer-to-peer Financial Information eXchange (FIX) services through its product line. Radianz also offers access to a full range of FIX services provided by its customers, including FIX messaging hubs, FIX ASP services, and FIX testing, certification and translation.