NEEDHAM, Mass.–(BUSINESS WIRE)–Sept. 29, 2003–
Extranet Integration Supports Complete Spectrum of TradeTek
Service Bureau Offerings in a Secure and Redundant Environment
TradeTek, LTD., an independent provider of real time market data and direct access trading technology, announced today an agreement with Transaction Network Services (TNS), one of the world’s leading providers of communications services for the financial services industry. TNS will provide co-location hosting and TNS Secure Trading Extranet connectivity for TradeTek, which will support some of the largest financial services transactions in the United States.
TradeTek’s incorporation of the TNS Secure Trading Extranet delivers seamless and secure access to TradeTek’s data and execution servers via a single network connection, either through a dedicated line, VPN or the Internet. As a result, TradeTek’s clients are able to eliminate the need for additional infrastructure, so they can streamline operations and reduce IT and hardware expenditures.
In addition, TNS’s hosting services provides TradeTek clients with a resilient and redundant “always up” network that operates in multiple locations. This delivers availability on a 24/7 basis and ensures data and execution integrity.
The TradeTek Service Bureau and proprietary trading software solution features real-time, direct data access and execution to all US equity markets, destinations and major exchanges. The Front-End component (TradeTek Pro), used in conjunction with the Trade Management Console, provides financial services institutions with the critical elements of speed and user simplicity that are essential in today’s competitive trading landscape.
TNS Financial Services Division provides a private IP network to support mission-critical applications including the Financial Information eXchange protocol (FIX). TNS’ proprietary network technologies have been deployed in the U.S. and internationally. TNS services more than 800 endpoints that include leading international Broker Dealers and investment funds that use the TNS proprietary network for automated trading and for interconnecting their trading desks with voice services.
“Our partnership with TNS is one of strategic and competitive significance for TradeTek and TradeTek clients,” said Gene Gilman, President and CEO of TradeTek, LTD. “Our first and foremost commitment is to provide our clients with the most advanced and cutting edge trading tools and services on the market today enabling them to continually realize their corporate and profitability objectives. With TNS’ support, our clients do not have to worry about IT and data security issues and can focus on their core business functions and attaining these objectives.”
“Our relationship with TradeTek furthers our mission of expanding straight-through-processing services via our Secure Trading Extranet,” said Alan Schwartz, Senior Vice President and General Manager of TNS’ Financial Services Division. “TradeTek positions its services in an extremely efficient manner by operating within our hosting center – essentially directly connected to the core Network. This reduces overhead and by using the Secure Trading Extranet, offers their customers unprecedented safety and security. We are pleased that TradeTek is leveraging our full-service offering – together our two companies are delivering a complete transaction services support system.”
About TradeTek, LTD
TradeTek, Ltd. is an independent developer of financial trading software that provides real-time exchange data and direct access order technology to all US equity markets. TradeTek’s products are designed for Broker Dealers, institutions, money managers, active trading firms, and hedge fund managers who seek market transparency, anonymity, and “smart order routing” functionality. Operating as a registered Service Bureau, clients connect to TradeTek’s redundant network, enabling a direct connection to all major exchanges and market centers. As a result, clients are able to streamline operations and cut costs by minimizing additional hardware and equipment needs. Service Bureau options include TradeTek’s front-end with trade management, or clients can integrate existing trading technologies to TradeTek’s “FIX” gateway to access all major liquidity sources on NASDAQ, NYSE and AMEX via a single connection to the TradeTek network. http://www.tradetekonline.com/
About Transaction Network Services, Inc.
Transaction Network Services is a leading provider of fast, cost-effective data communications services for transaction-oriented applications. Since its inception in 1990, TNS has designed and implemented one of the fastest and most reliable networks for the transport of transaction-oriented data. TNS’ proprietary network technologies have been deployed in the United States and internationally, and TNS’ network has become a preferred network servicing the trading community, card processing and dial-up automatic teller machine markets. For further information about TNS’ transaction solutions, please refer to www.tnsi.com.
