BATS Europe Taps TNS for Connectivity
March 2, 2009
BATS Exchange's European venue has tapped Transaction Network Services to provide market participants with connectivity via its Secure Trading Extranet.
Launched in October, BATS Europe will be able to "access an additional or multiple market venues from its single, fully redundant TNS connection," said John Owens, VP of exchanges and electronic communications networks in TNS's financial services division. "It is a connection optimized for electronic trading. Therefore it will be highly secure and very fast with low latency."
Owens added that his company's high-performance extranet will play an "important role" in helping BATS achieve its goal of operating the quickest platform in Europe. Over the past several months, Reston, Va.-based TNS, which connects more than 1,500 buy- and sell-side firms, trading platforms, and market data and software vendors, has signed on European multilateral trading facilities (MTFs) Chi-X Europe, Turquoise and Nasdaq OMX Europe.
In a prepared statement, Mark Hemsley, CEO of London-based BATS Europe, said that "TNS's global footprint and established market presence make it a valued partner that will help propel us into Europe." Since it began operations, the BATS MTF has rolled out trading in 15 major European indexes.
