Chi-X Global Technology, LLC 3 Times Square New York, NY 10036 212.310.9500
Chi-Tech Selects FTEN to Provide Real-Time Trading Risk Management and High-Frequency Execution Services for MarketPrizm Clients
LONDON – September 7, 2009 – Chi-X
®
Global Technology, LLC (“Chi-Tech
™
”), the technology
services unit of Chi-X Global Inc., today announced it has selected FTEN to provide risk control and high-frequency execution services for clients of Chi-Tech’s MarketPrizm
™
business line.
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 as well as a range of third-party applications and services. The combination of MarketPrizm’s infrastructure with FTEN’s execution and risk control platform will allow clients to access a Pan-European trading service complete with multiple co-location sites, while managing and controlling trading risk at each. Beyond high-speed access to multiple venues, MarketPrizm clients using FTEN will be able to set real-time risk controls to continuously track order flow, conduct pre-trade checks, calculate real-time positions and monitor capital utilization across venues, funds or clients. “MarketPrizm has been designed as a trading ecosystem that removes the technology and cost barriers firms face in maintaining the type of advanced infrastructure required for electronic trading in Europe today,” said Nicolas Levy, Managing Director for MarketPrizm. “Our close working relationship with FTEN and the easy availability of FTEN’s services to MarketPrizm’s clients is a key part of our strategy and approach.” “This announcement offers the European trading community an efficient path to enable real-time risk controls, across all markets, for their sponsored access business, as well as to expand their execution services to accommodate high-frequency trading across European market centers,” said Ted Myerson, CEO, FTEN. “Participants across Europe are actively looking for trading solutions that offer high-speed executions, tightly managed pre-trade risk controls and trade surveillance reports, along with neutral multi-venue access,” continued Myerson. MarketPrizm’s connectivity options and component applications are delivered via an open, neutral framework that allows 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. MarketPrizm is a business line of Chi-Tech, a leading provider of trading infrastructure solutions to global market centers and market participants.
Chi-X Global Technology, LLC 3 Times Square New York, NY 10036 212.310.9500
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 FTEN
(www.FTEN.com)
Founded in 2001, FTEN Inc. is a privately held corporation with offices in New York City, Colorado U.S.A. and London, England. FTEN’s technology processes millions of transactions globally, executes more than 20% of the U.S. equities average daily volume and calculates over $100 billion of risk calculations each day. FTEN enables prime brokers to expand their execution services business by providing a dedicated high-frequency execution and risk control platform to support their clients’ high speed ‘black box’ trade flow. Integrated with a co-location infrastructure and fresh market data, the platform offers ‘plug and play’ connectivity for fully automated trading strategies, giving trading firms and prime brokers time-to-market and total cost of ownership advantages. Together with unprecedented execution speeds across multiple venues, brokers and trading firms receive real-time pre-trade and post-trade risk controls along with surveillance reports to continuously monitor positions and limits – without compromising speed.
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.
Media Contacts Laura Perdue Marketing & Communications Chi-Tech Phone: +1 972 385 9658 Email: laura.perdue@chi-tech.com
Marie Giangrande Marketing & Public Relations FTEN, Inc. Phone: +1 212 812 8808 Email: mgiangrande@ften.com
©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.