Luxembourg-based internet protocol network connectivity provider Atrium Network has established a partnership with innerExchange, a provider of FIX trading, connectivity and smart routing solutions, to offer buy-side customers cost-effective access to Chi-X Europe.
The solution aims to provide customers with secure, low latency connectivity to Chi-X using the Atrium Network IP collect end-to-end network infrastructure and a web trading graphical user interface, embedded order management systems and real-time market data from innerExchange.
The service can be extended to provide access to other exchanges and liquidity pools, drawing on the smart order routing capabilities of the innerExchange platform.
The firms say customers can be up and running with a Chi-X trading solution comprising secure connectivity, real-time market data, order routing, order management system and a MiFID-compliant trade reporting system in less than 48 hours with a starting price of less than EUR700 per month.
'Our clients are gaining a competitive edge in what is becoming a cost driven market,' says Atrium Network chief executive Emmanuel Carjat. 'By partnering with innerExchange, we believe we are providing a compelling proposition for trading Chi-X and other markets.
'Technology is becoming increasingly like a commodity, and the European trading landscape is changing at such a fast pace that clients are increasingly seeking low -cost and very flexible solutions that can be scaled and extended easily. We are convinced customers will increasingly adopt such standardised turnkey technology solutions in the future.'
Richard Ney, founder of innerExchange, adds: 'Our partnership follows perfectly the rationale of Chi-X, which is to reduce costs and improve the efficiencies of the buy-side community.'
Atrium Network delivers scalable, easy-to-set up and fully secured connectivity solutions including a fully integrated monitoring and control interface that ensures real-time access to traffic statistics and controls. Based in Luxembourg with offices in London and Paris, Atrium Network offers global coverage in leading financial centres.
A provider of real-time electronic trading software and consulting services to the financial industry, innerExchange offers a range of electronic trading solutions catering to the needs of buy-side and sell-side clients as well as institutions and individuals seeking to set up their own electronic marketplaces and trading exchanges.
The firm's range of solutions has been designed to enable anyone to build, access and exploit internal, OTC or exchange-traded liquidity pools, or set up fully featured electronic exchanges quickly and inexpensively. All components are FIX end-to-end, offering ease of integration with other front-, middle- or back-office systems.