TNS reports Pure Trading contract

Source: Transaction Network Services

Pure Trading, the first alternative trading system in Canada to offer a fully electronic continuous auction market, has appointed Transaction Network Services to provide connectivity via its fully managed Secure Trading Extranet.

Transaction Network Services (NYSE:TNS) is working with Pure Trading to facilitate high capacity, low latency and cost effective connections with new and existing customers, in order to strengthen its position as a key provider of trading services for Canadian equity securities to the investment community.

In addition to providing Pure Trading with fast, secure and reliable connectivity, the link to TNS will allow access to TNS' extensive financial community of interest. TNS' network incorporates over 1,000 end-points, representing buy and sell-side institutions, market data and software vendors, exchanges and alternative trading venues around the world.

Richard Carleton, vice president of corporate development at Pure Trading said: "The connection with the TNS network will promote business growth and extend our reach due to its vast breadth of coverage. This includes supporting our focus on the North American marketplace and global outlook for the future.

"TNS is an important service provider for existing and prospective customers and allows us to offer our services to each very quickly and cost effectively."

Fully launched in January 2008, Pure Trading is the second marketplace facility offered by Canadian Trading and Quotation System Inc (CNQ); the company launched a recognized stock exchange for the listing and trading of junior capital companies in 2003. CNQ enables the trading community to use the emerging technologies to their full advantage, while delivering cost savings and enhancing the competitiveness of the Canadian equity markets.

John Owens, vice president for exchanges and ECNs at TNS, said: "We're delighted to be working with Pure Trading and providing its customers with fully-managed connectivity.

"Alternative trading systems are injecting new liquidity into the world's financial markets and the right technology is key to ensuring Pure Trading maximises its potential in what is an increasingly competitive arena.

"Pure Trading is also a valuable addition to our financial community of interest and we look forward to helping the CNQ team grow the business."

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