|[February 12, 2014]
TNS Expands ATS Portfolio with IEX Trading
RESTON, Va. --(Business Wire)--
Network Services (TNS) has partnered with IEX (News - Alert), an alternative
trading system (ATS) designed to realign the marketplace around the
interests of the investor.
IEX is a FINRA registered broker-dealer and operates as a non-displayed
ATS. Unlike other ATS', IEX is owned by the buy-side: a group of mutual
funds, hedge funds, family offices and individual investors, including
IEX employees. Buy-side firms can access IEX through 70+ broker
dealers who have already connected or are in the pipeline to connect
to the IEX platform.
IEX will appeal to TNS'
existing customers as well as new brokers and institutional buy-side
firms that wish to trade in this marketplace. At nominal cost, customers
of TNS (News - Alert) can add a trading counterparty connection to IEX on their installed
infrastructure within a matter of days. Customers can also leverage
IEX's smart order router, which accesses both displayed and
non-displayed liquidity at protected venues and protects against latency
arbitrage strategies. Ne buy-side firms and brokers can establish
connectivity with TNS and have a link to IEX as well as other members of
TNS' financial community.
Ronan Ryan, Chief Strategy Officer at IEX, said: "Our mission is to
provide liquidity that's sizable, shielded from predatory trading
strategies, and seamlessly accessible on IEX and across other National
Market System (NMS) venues. It's a tall task, so having the right
partners is important. We look forward to our future growth prospects
with TNS: an industry leader with a wealth of established relationships."
John Owens, TNS' Vice President of Exchanges and ECNs, said: "TNS is
ideally positioned to support IEX with our global network which supports
electronic trading across multiple asset classes for both order flow and
market data. Our dedicated focus on the institutional financial markets
allows TNS to fully comprehend the fast paced environment within which
IEX operates and compels us to rapidly implement new client connections
accordingly. Whether it is a connection to IEX or another member firm,
all TNS customers benefit from the industry-leading service excellence
we provide which includes a customer portal monitoring tool.
"IEX's innovative investor focused business model permits TNS to
continue to meet the diverse trading needs of our connected global
financial community. TNS provides easily scalable, cost-efficient
connectivity with rapidly turned up connectivity services for exchanges,
just like IEX, their participants and their partners. This will benefit
all parties engaged in electronic securities trading by lowering
barriers to entry and eliminating workload demands".
TNS' secure trading network will enable IEX customers to access TNS'
1,700 community endpoints, representing buy-side and sell-side
institutions, market data and software vendors, exchanges and
alternative trading venues.
For further information about TNS please visit www.tnsfinancial.com
For more information about IEX please visit www.iextrading.com
About Transaction Network Services (News - Alert)
TNS is a leading provider of data communications and interoperability
TNS offers a broad range of networks and innovative value-added services
which enable transactions and the exchange of information in diverse
industries such as retail, banking, payment processing,
telecommunications and the financial markets.
Founded in 1990 in the United States, TNS has grown steadily and now
provides services in over 60 countries across the America, Europe and
the Asia Pacific region, with our reach extending to many more. TNS has
designed and implemented multiple data networks which support a variety
of widely accepted communications protocols and are designed to be
scalable and accessible by multiple methods.
For further information about TNS, visit www.tnsi.com.
Dedicated to institutionalizing fairness in the markets, IEX will
provide a more balanced marketplace via simplified market structure
design and cutting-edge technology. IEX offers a fair-access platform to
any qualified broker dealer. IEX is driven by a team of cross-industry
experts with backgrounds spanning market venues, electronic trading, and
broker-dealers. IEX is the first equity trading venue owned exclusively
by a consortium of buy-side investors, including mutual funds, hedge
funds, and family offices.
Learn more at: www.iextrading.com
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