Sunday, January 25, 2009

Reliance Globalcom Extends Ethernet-based FinancialConnect!

Reliance Globalcom has extended its Ethernet-based financial extranet FinancialConnect! to the multilateral trading facilities (MTFs) Chi-X Europe, NASDAQ OMX Europe and BATS Europe.

Reliance Globalcom's secure extranet FinancialConnect! provides clients of the MTFs with high-speed, low-latency connectivity to real-time quote and trade information for the pan-European equities market. The Ethernet-based service is delivered of the company's global, fiber-based network.

Reliance Globalcom has provided Ethernet connectivity services to BATS electronic communications service (ECN) since 2006. NASDAQ Stock Market Inc. has been a customer of Reliance Globalcom since January 2007.

"As the number of MTFs increases, so does our FinancialConnect! provider list, with three to four new MTFs joining in the next few weeks," said Punit Garg, president and CEO of Reliance Globalcom. "Reliance Globalcom has effectively delivered a financial extranet that leverages unsurpassed Ethernet connectivity to serve MTFs, algorithmic traders and main markets -- all of whom are acutely aware of the value of a millisecond when executing trades. As fragmentation in the European equities market continues, our innovative and customer-focused offering appeals to all firms that are looking to service multiple venues."