Reliance Globalcom, a leading global provider of managed network and application delivery services for multinational enterprises, carriers and consumers, today announced that it has connected its Ethernet-based financial extranet FinancialConnect! to the multilateral trading facilities (MTFs) Chi-X Europe, Nasdaq OMX Europe and Bats Europe.
FinancialConnect! provides clients of the MTFs with high-speed, low-latency connectivity to real-time quote and trade information for the pan-European equities market.
"Chi-X Europe participants continue to enjoy substantially lower overall trading costs compared to the underlying exchanges as well as opportunities for potential price improvement, thanks in large part to the innovative third-party vendors that have partnered with us," said Hirander Misra, chief operating officer of Chi-X Europe. "We are pleased to welcome Reliance Globalcom's global client base to our growing list of partners."
"As the number of MTFs increases, so does our FinancialConnect! provider list, with three to four new MTFs joining in the next few weeks," said Punit Garg, president and CEO of Reliance Globalcom. "Reliance Globalcom has effectively delivered a financial extranet that leverages unsurpassed Ethernet connectivity to serve MTFs, algorithmic traders and main markets - all of whom are acutely aware of the value of a millisecond when executing trades. As fragmentation in the European equities market continues, our innovative and customer-focused offering appeals to all firms that are looking to service multiple venues."
Paul O'Donnell, chief operating officer of BATS Europe, said, "We look forward to partnering with Reliance Globalcom and its clients for access to our highly efficient, low-latency trading platform. Using our successful US strategy as a blueprint, BATS Europe is committed to making markets better by providing easy access to BATS for all European market participants. Connecting to top financial extranet solutions such as FinancialConnect! is a key part of that strategy."
"We are ensuring that traders on the European markets have the best experience when it comes to reliable, low-latency access to the growing number of platforms and venues available," said Todd Golub, chief operating officer, NASDAQ OMX Europe. "We also look for solutions and expertise from providers like Reliance Globalcom who have the agility and ingenuity to quickly respond to ever-changing market needs."
Reliance Globalcom's secure extranet FinancialConnect! supports global markets' demanding performance and reliability requirements by delivering speed, stability and security over a secure, global, fiber-based network. Reliance Globalcom has provided Ethernet connectivity services to BATS electronic communications service (ECN) since 2006. NASDAQ Stock Market Inc. has been a customer of Reliance Globalcom since January 2007.