Patsystems and Interactive Data 7ticks ink connectivity services deal

Source: Patsystems

Patsystems is pleased to announce an agreement with Interactive Data 7ticks for the delivery of connectivity services for its new Patsystems XConnect hub in Chicago.

Interactive Data will provide Patsystems with ultra low-latency networking services, facilitating connectivity to multiple exchanges from the Interactive Data 7ticks data center in Chicago. By working with Interactive Data for its exchange connectivity, Patsystems gains significant economies of scale, which in turn may be utilized by customers of Patsystems XConnect.

Initially, Patsystems' XConnect hub in Chicago will offer connectivity to the following derivatives markets:

* Australian Securities Exchange (ASX 24 market)
* CME Group
* Eurex
* Hong Kong Exchanges and Clearing Limited (HKEx)
* IntercontinentalExchange (ICE) including ICE Futures Europe,
* ICE Futures Canada and ICE Futures U.S.
* Montreal Exchange
* NYSE Liffe including Amsterdam, Brussels, Lisbon, London and Paris
* Osaka Securities Exchange (OSE)
* Tokyo Financial Exchange (TFX)
* Tokyo Stock Exchange (TSE)

Additional exchanges can be easily added based on client demand.

Patsystems XConnect is Patsystems' fully-managed Application Service Provider (ASP) offering. The launch of Patsystems XConnect hub in Chicago marks Patsystems' fourth new hub this year, with earlier launches in Singapore, Sydney and Hong Kong and an existing hub in Tokyo. All Patsystems XConnect hubs will be connected to one another via Patsystems' XLink technology.

Sean Barry, Patsystems Americas Managing Director, said: "We are extremely pleased to be working with Interactive Data for our Patsystems XConnect offering in Chicago. By teaming with Interactive Data, Patsystems has a truly unique managed ASP offering as we can leverage multiple exchange gateways from one location. Each exchange gateway is fully resilient and is monitored by Interactive Data's 24x7 real-time network monitoring system."

Joe Bigane, Managing Director for Interactive Data 7ticks, said: "For years, Patsystems has been delivering enhanced trading solutions to the financial derivatives community. The creation of an ASP solution is a testament to the Patsystems management team and their desire to deliver great value via flexible access models. Interactive Data is pleased to be a key part of this solution."

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