Source: Sector
Sector, a leading managed services, communications, and market data provider for the financial services industry, and its parent company the Securities Industry Automation Corporation (SIACR), the company that developed the Secure Financial Transaction InfrastructureR, (SFTIR) today announced that clients can utilize SFTI B2B for communications services to the Chicago Stock Exchange (CHX).
SFTI B2B from Sector enables firms to employ existing connectivity to SFTI to communicate with exchanges, market centers and content service providers not hosted by SIAC.
"We are very pleased and excited about adding the CHX to the list of exchanges, market centers and content service providers available via SFTI B2B," stated Allan Graham, Senior Vice President at Sector. "SFTI B2B complements the CHX New Trading Model (NTM) which was designed and constructed to provide fully electronic cost efficient executions."
Powered by SFTI, SFTI B2B allows clients to use the CHX FIX protocol to access the Chicago Stock Exchange matching system and CHX Institutional Brokers using CHX's BrokerPlex system. In addition, clients can use Unicast to access CHX CMS, the Exchange's legacy CMS order sending protocol for access to the matching system and CHX Institutional Brokers.
According to Chris Brown, Vice President of Operations at CHX, "The Chicago Stock Exchange is delighted to offer the SFTI B2B service offering to our users who will benefit from the reliability of the service in accessing our trading platforms. We see this partnership with SFTI as further demonstrating our commitment to provide easy access to our services."
SFTI is nationally recognized for its resiliency and redundancy. Based on proven state-of-the-art technology, SFTI B2B provides clients with a communications platform of unparalleled diversity and reliability that will carry their order flow and other critical data communications through a closed, high bandwidth, optical and highly available network. SFTI has garnered industry-wide acceptance and endorsements from numerous government agencies and industry organizations including, The U.S. Treasury Department, the Government Accountability Office (GAO) and the Securities Industry and Financial Markets Association (SIFMA). The NSTAC recognized SIAC and SFTI in its April 2004 Financial Services Task Force Report.
In addition to connectivity to SFTI B2BR, Sector offers multiple WAN technologies and architects customers "first mile" service with vendor and route diversity.