BT signs Chi-X Europe to Radianz Proximity service
16 October 2007 | 1763 views | 0
BT today announced that it will provide Chi-X Europe, a pan-European equity alternative trading system (ATS), secure hosting and low latency connectivity through Radianz Proximity Solution.
As a result, Chi-X Europe clients will now have the option to co-locate their trading engines and achieve near-zero trading latencies.
Hirander Misra, Director, Chi-X Europe, said: "Chi-X Europe offers clients faster, cheaper and smarter trading in a range of European equities. As part of this proposition, we are continually working with third parties to provide faster and more efficient connectivity and trading opportunities. Today's announcement is an example of this strategy in action, as the Radianz Proximity Solution offers the opportunity to reduce the already ultra-low Chi-X Europe response times to near-zero latency."
Mark Akass, Chief Technology Officer, BT Global Financial Services, said: "Chi-X Europe is an innovator that has recognized the business opportunities that MiFID provides and the need that more and more clients have for a low latency solution that gives them a vital competitive edge. BT has made significant investments in infrastructure to support customers in their response to MiFID. Our customers are turning to BT for solutions that deliver greater agility and allow them to concentrate on their core-business value propositions."
Radianz Proximity Solution facilitates a new immediacy in low-latency trading being driven by MiFID that allows financial institutions to meet their best execution commitments, deliver better service to their clients and increase their competitive edge.