Radianz announced today that the Chicago Stock Exchange (CHX) has selected its global financial extranet, RadianzNet, for a variety of Internet Protocol (IP)-based networking needs. The company also announced that the Boston Stock Exchange will use Radianz for network connectivity to BEACON, its communications, order-routing and trading system, and that the Montreal Exchange will use RadianzNet to connect brokers in the United States and Canada to the exchange’s electronic trading system. Radianz already serves the Pacific Exchange and the Hong Kong Futures Exchange.
RadianzNet will give Chicago Exchnage member firms around the world an IP option for accessing CHX’s MAX automated trading system and other CHX services. RadianzNet also will provide floor traders stationed at the Exchange with electronic access to their firm’s intranet and the multitude of other service providers connected to RadianzNet.
Radianz’s ability to establish connectivity rapidly between the CHX and its members is the primary reason CHX selected Radianz, says the company. Additionally, numerous Radianz customers have been requesting that Radianz add CHX to the list of more than 70 financial institutions and their electronic applications that can be accessed via RadianzNet.
“Radianz will appreciably shorten our time to market because its infrastructure already is connected to the firms that want to use our services,” says John Kerin, senior vice president and chief technology officer for CHX. “With RadianzNet, we will not have to wait weeks or months for network connectivity to our current and future members.”
For Radianz, the multiyear contract will enable it to provide connectivity to another electronic execution venue for trading equity products and offer access to other services in the equities markets.
“Radianz is delighted to add CHX to the other major exchanges and significant ECN stock trading networks already integrated on RadianzNet,” says Chris Church, executive vice president and head of Global Sales and Marketing for Radianz. “Radianz is quickly establishing itself as the connectivity architecture of choice because it enables the financial community to quickly deliver applications to customers and expand market reach, all in a reliable and secure environment.”
At the Boston Stock Exchange, Radianz’s global financial extranet, RadianzNet, will enable the BSE to link an extended network of financial institutions worldwide.
Mike Curran, chief information officer of the Boston exchange explains: “As the BSE’s business continues to expand, so does our need for increasingly complex and sophisticated technologies. By adding Radianz as a network provider, we are enabling our customers to access financial organizations connected to RadianzNet through BEACON.”
Kevin Formby, vice president and head of U.S. Sales for Radianz added: “What institutions like the Boston Stock Exchange are finding is that Radianz offers quick and efficient access to new business. In this case, as in others, it was demand from our customers that enabled us to demonstrate to BSE the value of joining our global financial community.”
The Montral Exchange plans to use Radianz’s global financial extranet, RadianzNet, to connect brokers in the United States and Canada to the exchange’s electronic trading system.
The exchange recently converted from a trading floor/outcry model to a fully automated system called Montral Automated System (SAM). Earlier this year, it also obtained approval from the U.S. Commodity Futures Trading Commission (CFTC) to offer American dealers and brokers access to its electronic trading platform to trade index and interest rate futures.
“Through a single connection to RadianzNet, the exchange will gain access to the end-users in Radianz’s global financial community,” says Rosanna Teti, vice-president, business solutions and information technology of the Montral Exchange. “Brokers in the United States and Canada also will gain the secure IP connectivity needed for trading on our system.”
For Radianz, its relationship with the Montral Exchange will result in the addition of another important exchange to its book of business. “As a result of the relationship, brokers who are connected to RadianzNet globally will be able to gain access to the Bourse through their existing connection to our extranet,” says Chris Church. “This is in addition to the access we already can offer them to several other leading exchanges throughout the world.”
Beyond the equities segment of the financial industry, Radianz also is aiming its services at the foreign exchange and fixed-income business.