Bats Europe, Nasdaq OMX And Chi-X Europe Welcome New Partner

Reliance Globalcom, a provider of managed network and application delivery services for multinational enterprises, has connected its Ethernet based financial extranet FinancialConnect to the multilateral trading facilities (MTFs) Chi X Europe, Nasdaq OMX Europe and Bats Europe. FinancialConnect provides clients

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Reliance Globalcom, a provider of managed network and application delivery services for multinational enterprises, has connected its Ethernet-based financial extranet FinancialConnect! to the multilateral trading facilities (MTFs) Chi-X Europe, Nasdaq OMX Europe and Bats Europe.

FinancialConnect! provides clients of the MTFs with high-speed, low-latency connectivity to real-time quote and trade information for the pan-European equities market.

Reliance Globalcom’s secure extranet FinancialConnect! supports markets’ demanding performance and reliability requirements by delivering speed, stability and security over a secure, global, fiber-based network.

Reliance Globalcom has provided Ethernet connectivity services to BATS electronic communications service (ECN) since 2006. NASDAQ Stock Market Inc. has been a customer of Reliance Globalcom since January 2007.

“Chi-X Europe participants continue to enjoy substantially lower overall trading costs compared to the underlying exchanges as well as opportunities for potential price improvement, thanks in large part to the innovative third-party vendors that have partnered with us,” says Hirander Misra, chief operating officer, Chi-X Europe.

“Reliance Globalcom has effectively delivered a financial extranet that leverages unsurpassed Ethernet connectivity to serve MTFs, algorithmic traders and main markets – all of whom are acutely aware of the value of a millisecond when executing trades,” says Punit Garg, president and CEO, Reliance Globalcom.

“We look forward to partnering with Reliance Globalcom and its clients for access to our highly efficient, low-latency trading platform,” says Paul O’Donnell, chief operating officer, BATS Europe. “Using our successful US strategy as a blueprint, BATS Europe is committed to making markets better by providing easy access to BATS for all European market participants.”

“We are ensuring that traders on the European markets have the best experience when it comes to reliable, low-latency access to the growing number of platforms and venues available,” says Todd Golub, chief operating officer, NASDAQ OMX Europe. “We also look for solutions and expertise from providers like Reliance Globalcom who have the agility and ingenuity to quickly respond to ever-changing market needs.”

L.D.

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