Imported from previous forum
Transaction Network Services (NYSE:TNS) has added Chi-XTM Canada to its expanding portfolio of ATS¡¦s, exchanges and ECN¡¦s.
Clients will be able to rapidly access the high-performance, fully-anonymous and low-cost Canadian alternative trading system through TNS¡¦ Secure Trading Extranet.
John Owens, Vice President of Exchanges and ECNs for TNS¡¦ Financial Services Division, said: ¡§We are delighted to have developed a new partnership between Chi-X Canada and TNS, which will enable firms that want to trade Canadian securities to access Chi-X Canada in a very rapid fashion.
¡§Typically connections can be established within three days ¡V often the same day. By connecting to TNS¡¦ Secure Trading Extranet, Chi-X Canada will be able to offer services to any point within TNS¡¦ ever-expanding community, currently sitting at more than 1,500 end points.
¡§The deal, which is an addition to the successful relationship TNS has with Chi-X Europe, will provide our clients with reliable, secure and low latency connectivity to Chi-X Canada and its no-cost market data. The Secure Trading Extranet is scalable and flexible, enabling it to adapt to the growing needs of businesses.¡¨
Matthew Trudeau, chief operating officer at Chi-X Canada said: “We¡¦re completely committed to working with the Canadian investment community to ensure that trading on Chi-X Canada is as easy and seamless as possible. We¡¦re pleased to announce today¡¦s agreement with TNS, as it provides Canadian market participants with greater choice in how they route orders to and receive pricing information from Chi-X Canada.”
TNS¡¦ extensive client community incorporates over 1,500 financial community end-points, representing buy- and sell-side institutions, market data and software vendors, exchanges and alternative trading venues. It boasts over 100 points of presence and provides services to customers in 28 countries across the Americas, Europe and the Asia Pacific region, with its reach extending to many more.
Financial institutions using TNS¡¦ network can access a variety of mission critical trade-related messages, data and applications which supports order routing, trade executions, direct market access and algorithmic trading.
Security is paramount, with high-value transactions protected by access validation, end-to-end encryption and secure points-of-presence.
For further information about TNS log onto www.tnsfinancial.com
Ends/¡K
About Transaction Network Services
Transaction Network Services (TNS) is an international data communications company that enables payments, money and voices to move around the world.
TNS¡¦ mission is to enable the world to transact. It does this through a broad range of networking, communications and value added services, which it provides to many of the world¡¦s leading retailers, banks/processors, telecommunications companies and financial markets.
Since its inception in 1990, TNS has designed and implemented multiple data networks, each designed specifically for the transport of transaction-oriented data. TNS’ networks support a variety of widely accepted communications protocols and are designed to be scalable and accessible by multiple methods. Today, TNS has offices throughout the world serving customers in 28 countries with the ability to provide services in other countries.
For further information about TNS, visit www.tnsi.com.
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
About Chi-X Canada
Operated by Chi-X Canada ATS Limited, member IDA/CIPF, Chi-X Canada is a high-performance, fully anonymous and low-cost continuous alternative trading system (ATS) for TSX-listed senior equities. Supporting a wide array of advanced order types, based on strict price-time priority and providing the ability to smart route orders to any displayed equities marketplace in Canada, Chi-X Canada aims to provide trading efficiency and cost savings to investors and ultimately to help increase market volumes as systems of this nature have done in other markets around the world.
Based on the same technology that is currently powering Chi-X„¥ Europe and developed by ATS pioneer Instinet, Chi-X Canada has an internal latency of less than one millisecond, or 1/1,000th of a second*.
Subscription is available to any IDA-regulated investment dealer with membership in good standing in British Columbia, Manitoba, Ontario or Quebec. The system is accessible to members for order entry through the FIX (Financial Information eXchange) protocol, and market data is available at no cost as a direct feed in the CHIXMD protocol, which is similar to the ITCH protocol currently in use by other markets. For more information, please visit the Chi-X Canada website at www.chi-xcanada.com.
- Internal latency, which is the system¡¦s ability to process messages in its core rather than the round trip measurement, was measured by Instinet to be 890 microseconds, or less than one millisecond. Market volatility and volume may affect actual performance.
For further information please contact either:
Paul Rogers/ James Hickman/ Gemma Walters Clare Cockroft/ Beka Horton
Ptarmigan Consultants TNS
Tel: +44 (0)113 242 1155 Tel: +44 (0)114 292 6416
paulr@ptarmiganpr.co.uk ccockroft@tnsi.com
jamesh@ptarmiganpr.co.uk bhorton@tnsi.com
gemmaw@ptarmiganpr.co.uk