Crdit Agricole Indosuez Cheuvreux (CAI Cheuvreux), the equity brokerage arm of the Credit Agricole group, announced today that it had signed an agreement to use Radianz’s global financial extranet, RadianzNet.
Institutional investors in Europe, Asia and the United States will be able to use RadianzNet for secure Internet Protocol (IP)-based access to CAI Cheuvreux’s electronic brokerage service. RadianzNet also will enable investors to trade with CAI Cheuvreux using the Financial Information Exchange (FIX) protocol for indications of interest (IOIs), orders, executions, allocations, and settlement instructions.
Lexit Capital in New York and InvestNet in Milan, Italy will be among the first institutions connected to CAI Cheuvreux electronic direct access via RadianzNet. But Radianz says it expects a rapid take-up by other customers of CAI Cheuvreux.
“In today’s fast-moving marketplace, no financial organization can afford to wait months for a teleco to install network infrastructure,” says Jerry Lees, head of Marketing, Execution Services at CAI Cheuvreux. “Radianz will speed our time to market because we will be able to use its existing global infrastructure, including connections to financial institutions worldwide, to do business with our targeted customers.”
For Radianz, the agreement reinforces its presence in France. “Radianz has a global network that the world’s leading financial institutions are using to connect trading partners to their electronic services,” says Chris Church, a Radianz executive vice president and global head of sales and marketing. “CAI Cheuvreux is the latest to select our services and its use of RadianzNet will add another important mix of institutions to our base of financial connections.”