Celeritas selects Exponential-e to support ultra-fast algorithmic trading          ·····          Exponential-e provides microsecond connectivity to Quote MTF          ·····          Exponential-e opens up fastest trading routes to the key financial hubs of Chicago, New York & Frankfurt          ·····          Sentronex joins Exponential-e’s Financial Exchange Community          ·····          IFS deploy “liquidity in a pipe” solution from Exponential-e          ·····          Exponential-e joins Equinix Financial eXchange          ·····          Turquoise and Exponential-e in Next-Generation Network deal          ·····          Altium Capital create new services with Exponential-e’s VPLS          ·····          Exponential-e signs “Financial Extranet” agreement with Chi-X Europe          ·····          "Liquidity in a pipe" launched by Exponential-e          ·····          

 

Lowest latency available for Financial Trading

 

One converged speed-of-light connection to 120 data feeds

Financial Markets Community

 

Exponential-e signs “Financial Extranet” agreement with Chi-X Europe

 Exponential-e, the UK’s most established Next-Generation-Network service provider, announced today that Chi-X Europe’s trading data and Extranet services will be available via its “Financial Markets Service Creation Platform (FM-SCP)”. Exponential-e hosts more than 150 financial institutions from its VPLS-enabled next-generation network and FM-SCP. Under the terms of the deal, these customers will be able to access Chi-X Europe’s market data and trading platform services as an additional “plug and play” feature within the FM-SCP offering.  Speed of execution, low-latency and scalability will be a key feature. The service will be available from next month.

 

Chi-X Europe is the first live, pan-European equity multilateral trading facility (MTF). The alternative execution venue provides trading services for component stocks of ten of Europe’s top indices and was established in response to clients’ demands for a faster, cheaper and higher-capacity alternative to trading on traditional stock exchanges. Trades in these stocks are cleared through Fortis’ European Multilateral Clearing Facility (EMCF) and settled in the local Central Securities Depositaries for these stocks. All trades on Chi-X are fully fungible with trades transacted on the primary market.  

 

Exponential-e’s community of financial customers includes hedge funds, investment banks, brokers, dealers and asset managers. These customers need only ask Exponential-e for a simple software configuration to benefit from the new service.

 

For other financial institutions, not yet Exponential-e customers, connectivity into the FM-SCP – including the Chi-X Europe service - is available via an ultra low- latency Ethernet connection into any one of Exponential-e’s numerous points-of- presence on its 10Gigabit Ethernet Next-Generation Network. Sub-millisecond round-trip performance is backed up with tight service-level agreements, 24/7 support from an in-house network operations centre and built-in network resiliency and redundancy.

 

Exponential-e supported the new deal by “proximity hosting” in the Equinix Data Centres where Chi-X Europe is present.  By locating its core-switching infrastructure in these locations, customers are always one network-hop away from the Chi-X Europe MTF service, supporting Chi-X Europe’s reputation for low-latency execution.

 

Commenting on the deal, Mark Cooper, Business Development, Exponential-e said:”This deal is all about added value for our customers. MiFID’s best execution rules need not be a headache. Getting access to multiple sources of liquidity need only involve one connection – one pipe into the Exponential network”.  

 

“Through our streamlined business model, institutional investors are able to trade a wide range of European equities and achieve low-cost, high-speed trade execution, as well as potential price improvement,” said Hirander Misra, Chief Operating Officer of Chi-X Europe. “We are pleased to welcome the diverse customer base of Exponential-e to our growing list of participants.”

 

-ends-

 

About Exponential-e’s Financial Markets Community

 

Exponential-e’s finance unit is dedicated to serving the needs of the finance industry. Designed for latency-sensitive trading applications, Exponential-e’s next-generation network supports the finance industry’s move to algorithmic trading, direct market access and best-execution policies. Low-latency connectivity, financial data feeds and associated applications and services are available to the finance community. The company’s Financial Markets Service Creation Platform (FM-SCP) is a networked community of buy-side and sell-side financial organisations. Hosted as a single community from Exponential-e’s high-speed, secure and scalable Ethernet network, members get all the advantages of peer-to-peer connectivity and a simple, secure and private environment from which to connect with each other and share financial data and applications.

 

Exponential-e Finance is the equity markets and financial services arm of Exponential-e Ltd the UK’s most established provider of MPLS-based VPLS services and next-generation Ethernet applications to enterprise.

 

Exponential-e currently has more than 150 financial institutions within its FX-SCP connecting, trading and sharing rich content.

 

 

For more information visit www.finance.exponential-e.com or contact:

+ 44 (0) 20 7096 4098

helen.simpson@exponential-e.com

 

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Telephone Switchboard: +44 (0) 20 7096 4160
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