London, United Kingdom (PRWEB UK) 21 September 2013
Aquis Exchange, the proposed pan-European equities trading exchange*, has added AlgoSpan Ltd’s AlgoNet network as an extranet supplier. AlgoNet’s infrastructure services are designed to increase the speed of market data delivery and reduce order execution latency.
Aquis Exchange has been created to operate a pan-European equities trading exchange and develop exchange software. It is set to revolutionize the European trading landscape by its introduction of subscription pricing and innovative order types. The aim of Aquis Exchange is to bring fresh competition into the marketplace in order to lower trading costs.
AlgoSpan is a network carrier providing low latency connectivity solutions to the global financial community. Our network capabilities create real-time competitive advantage, reducing execution times to all major trading venues and market data feeds across Europe and the United States.
Commenting on the agreement, Aquis Exchange CEO Alasdair Haynes said: “We believe in providing our Members with as many connectivity options as possible and being able to offer them AlgoNet’s low latency infrastructure is particularly useful for those Members for whom speed of execution is very important. We are very pleased to be working with AlgoSpan.”
Robert Bicket, CEO of AlgoSpan, added: “With a focus on distance-related network latency, AlgoNet applies our ‘shortest path’ philosophy to target delays between trading venues and the customer’s trading systems. We deliver unrivalled latency delivering a bespoke trading infrastructure solution to meet specific needs.”
For further information, please contact:
AlgoSpan: Kerry Marchbank +44 (0) 845 313 8910 kmarchbank(at)algospan(dot)com
Aquis Exchange: Belinda Keheyan +44 (0)20 3440 7747 bkeheyan(at)aquis(dot)eu
AlgoSpan provides end-to-end trading infrastructure and real-time market data services to financial services firms operating low latency / high frequency trading strategies – proven to bring direct improvements to bottom-line trading performance. AlgoSpan’s trading infrastructure (branded AlgoNet) underpins all customer solutions, including delivery of its multicast normalised and raw exchange data (branded AlgoData).
As a network carrier specialising in high bandwidth fibre services, AlgoSpan has a unique capability to provide dedicated point-to-point fibre connectivity directly between the customer’s desired locations. With a choice of service options, the link will take the most direct path designed, installed and optimised using routes focused on latency.
About Aquis Exchange
*Aquis Exchange, which has applied for regulatory approval as a multilateral trading facility from the UK FCA, was established in October 2012 and has been created to operate a pan-European equities trading exchange and develop exchange software. Aquis Exchange is set to revolutionize the European trading landscape by its introduction of subscription pricing and innovative order types. Currently, over 90% of European equity trading in each individual country takes place on two exchanges. The aim of Aquis Exchange is to bring fresh competition into the marketplace in order to lower the trading costs maintained by the existing duopoly.
Aquis Exchange’s subscription pricing works on a similar model to that of the telecoms industry and is designed to encourage participation from all categories of professional trading firm. Users will be charged according to the message traffic they generate, rather than a percentage of the value of each stock that they trade. There will be different pricing bands to accommodate varying degrees of activity. There will be a very low usage band for small firms that are traditionally disadvantaged by the pricing structure of the incumbent exchanges and, at the other end of the pricing structure, will be the top category where usage is unlimited (subject to a “fair usage” policy).