TNS inks Linedata deal

Source: TNS

Transaction Network Services, Inc. (TNS), a subsidiary of TNS, Inc. (NYSE: TNS) and a premier network and data communications provider for transaction-oriented applications, today announced that Linedata Services Inc., a leading provider of software and services to the global financial services marketplace, has selected TNS to provide a specialized trading network for its order management system (OMS).

LongView LyNX is Linedata's new full service electronic trading package, which includes Financial Information eXchange (FIX) connectivity and broker certification services, as well as monitoring and support services for LongView Trading customers.

With significant understanding of the needs of the buy-side, Linedata selected TNS as the optimal network provider for its LongView LyNX product. With more than 950 endpoints, TNS' Secure Trading Extranet is widely recognized as one of the leading global networks for electronic trading.

"When putting this package together for our customers, it was very important that we have the right partner backing our FIX network," said Annie Morris, Senior Vice President of Product Strategy and Client Services, Linedata Services Inc. "TNS is well-established in the industry and has been leading the market for over seven years. A proven provider of fast, reliable data communications services on a global basis, TNS is an excellent partner for us in this part of our business."

LongView LyNX offers customers a simplified process to extend the functionality of their OMS and meet electronic trading requirements. It offers seamless connectivity to the sell-side through Linedata's fully integrated and supported FIX network, providing the security and speed of a point-to-point network, but with the low maintenance of a hub-and-spoke system. LongView LyNX covers the straight through processing (STP) cycle from indications of interest (IOIs) to execution to post trade processing for all asset types.

"This is an exciting opportunity for TNS to collaborate with Linedata and fill an important niche through this new offering to the trading community," said Alan Schwartz, Senior Vice President and General Manager of TNS' Financial Services Division. "Together, we can boost the speed, convenience and efficiency of the STP process between the buy-side and the sell-side participants."

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