Fortis Bank Global Clearing chooses Atrium Network to connect to exchanges

Source: Atrium Network

Atrium Network, provider of smarter connectivity for the financial community, today announced that Fortis Bank Global Clearing NV one of the world leaders in global clearing will use Atrium Network's 'Exchange Ring' for ultra low latency connectivity to multiple MTFs including CHI-X and Nasdaq OMX.

In the current landscape of market fragmentation, participant firms trading on MTFs require
the lowest possible latency. Each of the MTFs has chosen various data centre locations at which to locate their matching engines. As such, participants may have committed significant capital investment to ensure engine co‐location at every venue. If US experience is any guide, the European market may anticipate a number of changes: mergers and acquisitions, new entrants and potential closure of existing entrants. In response to this changing landscape, Atrium Network launched its 'Exchange Ring', an interconnectivity fabric designed to mitigate the risk of any unnecessary co‐location investment and ensuring lowest possible latency access to all available trading venues.

Commenting on the announcement, Emmanuel Carjat, CEO of Atrium Network said, "At Atrium Network we are continually innovating to anticipate market developments and are delighted to see Fortis Bank Global Clearing take advantage of Exchange Ring's low latency connectivity. In times of economic uncertainty and market volatility, the pressure to minimise risk and capitalise on the trading opportunities presented by these new MTFs is greater than ever. Exchange Ring's ultra low latency offers firms seeking a competitive advantage over other firms relying on older connectivity technology."

Neil Singleton, Global Head of Market Access Architecture of Fortis Bank Global Clearing, added, "Having compared the market offerings, we are pleased to be connecting to Atrium Network for access to multiple MTFs including CHI-X and NASDAQ OMX. Achieving the lowest possible latency is a key priority and we believe Atrium Network's innovative approach will help us achieve this and we look forward to having a single point of connectivity to the other venues available on the Exchange Ring."

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