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Chi-Tech`s MarketPrizm Unit to Launch New High Speed Network and Optimized Services Platform for European Trading
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LONDON--(Business Wire)--
Chi-X® Global Technology, LLC ("Chi-Tech™"), the technology services unit of
Chi-X Global Inc., today announced that its MarketPrizm® business will launch a
new ultra low-latency network to provide trading firms with a "one-stop"
platform for electronic trading in the European markets, including neutral
multi-venue access and a range of services. The new enabling architecture is
being marketed under the flagship brand name, MarketPrizm.
The changing European market landscape has required firms to enhance and often
completely replace their trading technology infrastructure in order to access
centers of liquidity in the region, process low latency market data, manage
real-time risk and flexibly support changing business models. This
infrastructure challenge has rapidly driven up the cost of trading and
operations in the region.
MarketPrizm is a European trading ecosystem designed to solve the challenges
firms face in deploying and maintaining a flexible, state-of-the-art
architecture for all types of electronic trading. Powered by an optimized dark
fiber network linking 19 markets, which the company has branded PrizmNet™,
MarketPrizm provides completely neutral access to the region`s market centers.
It also offers a fully redundant co-location and proximity hosting
infrastructure, a range of application services, and ultra low-latency market
data delivered via a 10Gbps logical mesh network structure.
The service`s connectivity options and component applications are delivered via
a completely open, neutral framework that empowers clients to select the precise
solution that meets their business and technology requirements. This open
delivery framework also enables the company to provide components that fit into
and enhance a client`s existing technology stack.
Through its preferred suppliers, MarketPrizm provides several application
services options, including pre- and post-trade risk management, order gateways,
multi-venue market data acquisition, latency measurement and smart order
routing.
The connectivity infrastructure that powers MarketPrizm is being provided by
euNetworks Group Limited, Europe`s foremost provider of mission-critical, high
performance networking solutions.
"We are offering unparalleled flexibility and a fully-managed connectivity and
application services suite that removes the technology and cost barriers to algo
and high frequency trading in the UK and Europe," said Nicolas Levy,
MarketPrizm`s Managing Director. "MarketPrizm offers a truly one-stop solution
and represents a dramatic expansion of the service options now available to
trading firms."
"We have been working closely with the MarketPrizm team to design a bespoke,
ultra-low latency network connectivity solution to power the MarketPrizm
ecosystem," said Brady Rafuse, CEO of euNetworks. "We look forward to continuing
to work together and using our state-of-the-art networking capability to
revolutionize trading in Europe."
MarketPrizm is a business line of Chi-Tech, a leading provider of trading
infrastructure solutions to global market centers and participants.
About MarketPrizm®
MarketPrizm is a European trading ecosystem designed to solve the challenges
firms face in deploying and maintaining a flexible, state-of-the-art
architecture for all types of electronic trading. Powered by an optimised dark
fibre network linking 19 markets, MarketPrizm provides neutral access to the
region`s market centres. It also offers a fully redundant co-location and
proximity hosting infrastructure, a range of application services, and ultra
low-latency market data delivered via a 10Gbps logical mesh network structure.
About Chi-Tech™
As the technology services unit of Chi-X Global Inc., Chi-X Global Technology,
LLC ("Chi-Tech") provides cost-effective, high-performance, end-to-end trading
technology, infrastructure and services. The company`s proven, innovative
solutions are designed for exchanges and alternative trading venues, as well as
brokers, banks and other market participants. Chi-Tech`s focus is delivering
outcome-oriented technology that enables the world`s marketplaces and their
participants to lower costs, reduce risk and maximize competitive advantage.
About euNetworks
euNetworks Group Limited (SGX: H23:SI) ("euNetworks") is Europe`s foremost
provider of mission critical, high performance networking solutions. Our €1bn
all-optical network delivers a new level of freedom and performance. We
exclusively offer high-performance networking and specialise in solutions for
high performance businesses in the Finance and Media sectors, and Carriers /
Service Provider markets. We own 15 metropolitan networks throughout Europe,
connected with a fully owned, high-capacity backbone. Because we own the
network, we deliver superior performance that we contractually guarantee. Our
Carrier Grade services are massively scalable and delivered on-demand, in days
not weeks.
euNetworks is headquartered in London and publicly listed on the Singapore stock
exchange (SGX: H23.SI). euNetworks is initiator and a member of euro-one, a
unique collaboration of fibre optic network providers to deliver infrastructure
and next generation networking solutions connecting Eastern, Central, Western
Europe and North America (www.euro-one.com). For further information please
visit www.euNetworks.com.
About Chi-X® Global
A subsidiary of electronic trading pioneer Instinet, Chi-X Global, Inc. is a
global provider of market infrastructure technologies and trading venues. Its
regional Chi-X trading platforms aim to provide investors around the world with
the most efficient markets possible through their high-speed, low-cost,
intelligent trading models, while its separately operated Chi-Tech services
unit, whose data management and trading technologies have been deployed by some
of the world`s leading exchanges and financial firms, provides a range of
end-to-end trading and market data technologies. Chi-X believes that truly
competitive, technology-driven markets benefit all participants in the trading
process - investors, brokers and the primary exchanges - by making the market
more attractive to the global trading community, which ultimately helps to
increase overall market volumes and improve investor performance.
©2009 Chi-X Global Technology, LLC. All rights reserved. CHI-X is a registered
trademark in the UK, Europe other jurisdictions. INSTINET is a registered
trademark in the US, and in other countries throughout the world.
Chi-Tech
Laura Perdue, +1 972-385-9658
Vice President, Marketing & Communications
laura.perdue@chi-tech.com
or
euNetworks
Ms. Cristene van Jaarsveld, +44 2033178 8681
Marketing Executive
marketing@euNetworks.com
Copyright Business Wire 2009
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