Transaction Network Services (TNS) has expanded its international network with a new point-of-presence (POP) in Bermuda, making the company the first to connect to one of the largest offshore financial markets.
“The Bermudan economy has a long and important association with financial markets, and the development of e-commerce and telecommunications is key to the future of the island,” Alex Walker, VP financial markets (international).
Through TNS’s extranet, traders in Bermuda will be able to connect to over 1,000 financial community end-points representing over 400 buy and sell-side institutions, market data and software vendors, exchanges and alternative trading venues around the world.
Existing customers of the extranet will be able to access Bermuda’s financial markets to submit a variety of trade-related messages, including indications of interest, order routing, and trade executions, and carry out other Financial Information exchange (FIX) and non-FIX transactions.
“The Secure Trading Extranet will advance existing connectivity options in and with Bermuda,” Walker said. “In addition to transport of trades and trading-related-data via the Secure Trading Extranet, companies with offices in Bermuda will be able to use TNS’ fully managed wide-area network service to connect to offices worldwide.”
TNS has sped up its international expansion, establishing operations in Northern, Central and Eastern Europe, going from 70 to 96 points of presence, and increased its network coverage from 11 to 25 countries in North America, Europe and Asia Pacific.