Source: Reliance Globalcom Services
Reliance Globalcom Services, a leading provider of managed network and application delivery services for the global enterprise, and TSX Datalinx, a division of TSX (operator of Toronto Stock Exchange), today announced that TSX Datalinx has approved Reliance Globalcom's financial Extranet, Yipes FinancialConnect!, as a provider of high-speed, low-latency access to real-time quote and trade information.
Yipes FinancialConnect! is connected to TSX Datalinx's LinxPointOne distribution platform, which disseminates a broad variety of Canadian equity and other marketplace content from Toronto Stock Exchange, TSX Venture Exchange, Canadian equity ATS's, TSX/CP equities news, and TSX live inter-bank foreign exchange rates.
"Offering the Yipes FinancialConnect! service increases our customers' choices for obtaining data on leading communications and infrastructure platforms," said Eric Sinclair, senior vice president, TSX Datalinx. "We already have more than 100,000 customers around the world, and we're expanding the global reach of our content. When it comes to our customers receiving market data, faster is always better. Yipes FinancialConnect! provides an excellent option for customers concerned with speed and latency."
The Importance of Low-Latency
"As the financial industry's gateway to over 80 financial providers worldwide, the low-latency Ethernet-based service provided by Yipes FinancialConnect! is critical to the Canadian marketplace. This market is trending toward algorithmic trading, which is accounting for an increased proportion of its trades," said John Panzica, general manager of financial services, Reliance Globalcom. "This trend makes it particularly important for the market to have faster and more reliable access to market data, which improves order fulfillment and trading volume. When receiving market data or executing trades, milliseconds matter."
Yipes FinancialConnect! is a secure Extranet and supports the demanding performance and reliability requirements of electronic trading and other real-time applications by delivering speed, stability, and security over a secure, global, fiber-based network. Yipes OnDemand allows customers to instantly scale bandwidth from 1 Mbps to 1 Gbps in 1 Mbps increments, so they can dynamically adapt to evolving business needs and changing market conditions. The Extranet links more than 350 financial services firms to more than 80 of the world's leading exchanges and pre/post-trade services providers. The network operates at Layer 2, which is more efficient than Layer 3 (IP) and enables faster transactions.