Chi-Tech`s MarketPrizm Unit to Launch New High Speed Network and Optimized Services Platform for European Trading
* Reuters is not responsible for the content in this press release.
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 firstname.lastname@example.org or euNetworks Ms. Cristene van Jaarsveld, +44 2033178 8681 Marketing Executive marketing@euNetworks.com Copyright Business Wire 2009