AboveNet, a leading provider of high bandwidth connectivity solutions, today announced its low latency fibre optic network will provide access to the BATS Europe and Chi-X Europe trading platform.
BATS Europe and Chi-X Europe account for more than 20% market share of overall European equities trading, making it the largest pan-European trading venue by value traded.
By utilising AboveNet's high performance network, BATS Europe and Chi-X Europe trading participants will benefit from connectivity to all key financial districts in London via the shortest, secure paths.
"AboveNet has a well established expertise in providing the financial sector in the U.S. and U.K with secure, fast, Ethernet networks," said Brett Johnson, vice president, Business Development for AboveNet Europe. "We have the diverse international routes in place, and we are looking forward to working with BATS Europe and Chi-X Europe trading participants to meet their high-bandwidth connectivity needs."
AboveNet is dedicated to delivering an industry-leading, efficient network platform for the financial communities. Specifically, AboveNet FinanceNet addresses this demand for connectivity between major financial districts, reaching the key trading venues and financial exchanges. Services are delivered over a secure, scalable fibre optic platform.
BATS and Chi-X Chief Operating Officer Paul O'Donnell commented, "In today's financial markets ultra-low latency network performance is a prerequisite rather than a competitive advantage. We aim to provide our trading participants with connectivity choice and are pleased to include AboveNet as one of our connectivity partners."
BATS Global Markets (BATS), a global operator of stock and options markets, completed the acquisition of Chi-X Europe on 30th November 2011. The migration of the Chi-X Europe trading platform to BATS technology is scheduled for completion on 30th April 2012.