Radianz today announced that Archipelago’s network offerings will be expanded to include Radianz’s global financial extranet, RadianzNet, to connect additional European and U.S. financial professionals to all of Archipelago’s electronic services for trading stocks.
The Archipelago Electronic Communications Network (ECN) recently merged with REDIBook, combining two of the fastest- growing ECNs. The Archipelago Exchange, the first totally open electronic stock exchange that gives all investors access to the same financial information, began operations in March 2002. Archipelago will use RadianzNet as it works to continue increasing the number of financial professionals accessing its advanced order matching destination and best execution model.
Mike Cormack, Archipelago president said, “As an open system, Archipelago allows its customers to connect the way they want to connect. Radianz’s secure, global IP infrastructure is already connected to the financial institutions we are targeting as new customers. This will provide a fast, efficient path for European and U.S. financial institutions to connect to Archipelago.”
Chris Church, executive vice president of global sales for Radianz said, “We are pleased Archipelago recognizes Radianz is dedicated to providing a global financial extranet.
“The value Radianz can provide to organizations like Archipelago is Radianz’s existing IP connectivity can be used to connect quickly with new customers, which speeds time to market. We look forward to working with Archipelago to making this happen – and giving all the institutions connected to RadianzNet fast access to all of Archipelago’s products.
“Because of our focus, Radianz is the clear choice when it comes to services that financial institutions and their professionals can use to distribute and access financial applications and content.”