Imported from previous forum
3 December 2007 – Transaction Network Services (TNS:NYSE) is providing clients with trading access and real-time pricing for Chi-X® Europe.
A secure fully-managed connection will link TNS’ Secure Trading Extranet to the pan-European multi-lateral trading facility (MTF).
Alex Walker, Senior Vice President of Global Sales, for TNS’ Financial Services Division, said: “We’re delighted to be working with Chi-X Europe to open up access to trading and free market data, by providing secure, high availability and high speed connectivity in support of mission critical trading activity. Accurate real time price information is the cornerstone of trading, in an industry where milliseconds do truly mean millions.
“Liquidity across Europe is fragmenting as a result of MiFID and innovators such as Chi-X Europe are driving the change to a far more efficient equity market for investors and asset managers.
“TNS’ Secure Trading Extranet provides reliable, secure, low latency connectivity, and will be a valuable tool for Chi-X Europe as it seeks to build upon its strong liquidity position.”
Hirander Misra, Director,Chi-X Europe Limited, said: “This connection provides market participants with a greater choice as to how they route orders and receive pricing information. Chi-X Europe is committed to delivering a low cost, ultra fast trading platform, and providing clients with this latest connection furthers the goal of making market data readily available free of charge.”
The deal also enables Chi-X Europe’s participants to connect to TNS’ extensive community of interest, incorporating over 1,000 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 America, 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
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About Transaction Network Services
Transaction Network Services (TNS) is an international 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®
Chi-X Europe Limited, an indirect subsidiary of Instinet Incorporated, is an FSA-authorised securities firm operating as an MTF (Multi-Lateral Trading Facility) for the trading of a wide range of European equities.
Chi-X Europe’s low-cost, streamlined model is designed to help institutional investors achieve ultra-low execution, clearing and settlement costs. Both internal and external benchmark tests showed the Chi-X Europe operating model to be up to 10 times faster† than traditional equity exchanges. Chi-X Europe disseminates market data to clients directly and via third-party market data vendors at no cost, and trade reporting is available for a low monthly fee. For more information, please visit www.chi-x.com.
† Based on Instinet Europe Limited’s exchange linkages performance measurement statistics for average DMA order messaging in June 2007. These Instinet internal figures are for round-trip latency message acknowledgement based on sending an average number of messages to the exchange system and obtaining a response back to Instinet’s system over the course of a normal trading day. They are provided for illustrative purposes only and are not intended to represent an independent performance measure of latency. Market volatility and volume may affect actual performance.
For further information please contact either:
Clare Cockroft/James Hickman/Gemma Walters Melissa Hyland
Ptarmigan Consultants TNS
Tel: +44 (0)113 242 1155 Tel: +44 (0)114 292 6410
clare@ptarmiganpr.co.uk mhyland@tnsi.com
jamesh@ptarmiganpr.co.uk
gemmaw@ptarmiganpr.co.uk