Transaction Network Services (TNS), an international data communications company, has announced that global trading firms can now access ELX Futures, a fully electronic alternative exchange, via TNS’ Secure Trading Extranet.
TNS’ Secure Trading Extranet connects over 1,500 financial community end-points, representing buy-side and sell-side institutions, market data and software vendors, exchanges and alternative trading venues.
TNS said that the ELX Futures was launched in July by 13 financial institutions, including JP Morgan, Bank of America, Credit Suisse, BGC Partners and Goldman Sachs, among others. As a certified connectivity partner, TNS will provide a connectivity services between ELX and organisations trading on the exchange.
In addition to FIX trading, TNS’ Secure Trading Extranet will also enable participants to trade using ELX’s interface.
Joseph Noviello of BGC Partners, and technology architect for ELX Futures, said: “Connecting to TNS allows ELX Futures to offer its customers more choice and provides them with a rapid connectivity option to the futures market. A key factor in ELX’s strategy is to provide resilient, low latency, cost effective access from anywhere around the world, and TNS’ Secure Trading Extranet will be a vital component of this.
“This deal also allows easy access to ELX for TNS’ extensive global financial community and we believe this will help ELX achieve faster rates of international growth over the coming months. TNS also offers ELX an immediate distribution channel, as well as boasting extensive experience with FIX order flow.”
John Owens, vice president of exchanges and ECNs at TNS’ financial services division, said: “ELX is a new and exciting futures exchange with a fantastic pedigree and we are very proud to be one of its first approved connectivity providers. We look forward to supporting ELX and its customers as they grow with TNS’ scalable, resilient, secure and cost effective connectivity services.”
“We also expect to see a great deal of interest from our current global financial customers trading via the TNS Secure Trading Extranet as we can easily set up new connections to ELX in just three days.”
