Nordic multi-lateral trading facility, Burgundy, has selected Transaction Network Services’ Secure Trading Extranet to provide essential connectivity services to its clients, supporting the flow of orders and market data between the MTF and its trading participants.
Burgundy is owned by a consortium of leading Nordic banks and securities trading firms, who together represent almost half of the Nordic trading volume. Expecting a Q2 2009 launch, Burgundy’s aim is to strengthen the Nordic region as a financial hub by providing a client-focused and high-performance platform, offering cost-efficient and reliable securities trading services.
“As a new player in the Nordic securities marketplace, it was vital for Burgundy to find a service provider offering a range of services that would accommodate the connectivity needs of our clients,” says Olof Neiglick, CEO, Burgundy. “When trading begins on our platform, our clients will be equipped with secure, low latency connectivity to the destinations they require.”
“The organisations behind Burgundy represent almost half of all Nordic trading volumes, so a vast amount of trading and market data will pass through the MTF from day one,” says John Owens, vice president of exchanges and ECNs for TNS’ financial services division. “It is vital that Burgundy’s connectivity is as robust and efficient as possible, to ensure clients are provided with a fast and reliable service from the outset. As a brand new MTF, Burgundy will also be able to take advantage of the highly scalable and flexible service provided by TNS, allowing us to fulfil their needs as the platform grows in the weeks and months to come.”
The deal will also make Burgundy available to the 1,500 end points connected to TNS’ financial community of interest, which includes buy and sell side institutions, trading application providers, stock exchanges, ECN’s and alternative trading systems across the Americas, Europe and the Asia Pacific region.
TNS has over 120 points of presence and provides services to customers in over 28 countries across North America, Europe and the Asia Pacific region, with its reach extending to many more.
D.C.