The Chicago Board of Trade (Cbot) has selected Radianz to provide the Internet Protocol (IP) networking needed to distribute real-time market data across its global quote vendor network.
Under a three-year contract, Radianz will provide an IP-multicast solution using its global financial extranet RadianzNet that will enable market data to be distributed simultaneously across all 60 of the Exchange's data vendor connections.
Steve Dickey, vice president, market data products, Cbot, says the expected increase in market data volumes following the implementation of the Liffe Connect platform required the Exchange to seek a better solution for its quote vendor network.
"Radianz's fully managed IP networking will facilitate the rapid communication of trade data, increase our operational efficiency by reducing the lead time to establish connectivity, and minimise our network management responsibilities," says Dickey.
He adds that the deal will also enable the Exchange to reduce costs associated with installing multiple point-to-point network connections.
Cbot is the 100th financial institution to sign up to Radianz's IP network.