Asian financial market traders can now access multiple sources of “dark pool” liquidity thanks to a new agreement between Chi-East and global conne
Asian financial market traders can now access multiple sources of “dark pool” liquidity thanks to a new agreement between Chi-East and global connectivity provider, Transaction Network Services (TNS). Chi-East was created back in August 2009 through a joint venture between Chi-X Global and the Singapore exchange (SGX). It becomes the first ever exchange-backed non-display venue in Asia, allowing securities to be anonymously traded in Hong Kong, Singapore and Australia. As a pan-regional platform, and by utilizing TNS’ Secure Trading Extranet, Chi-East is now able to give clients access to multiple liquidity pools through a single trading connection. As well as reduce the time establishing intra-Asia connectivity between Asian financial institutions to just three working days. TNS, headquartered in Reston Virginia, currently serves clients in over 40 countries worldwide. Its Extranet connects over 1,600 financial firms. Chi-East’s CEO, Ned Phillips (pictured), said he was excited by the launch, adding that they needed a provider who could offer fast, secure and resilient connectivity. “TNS provides us with a cost effective process that strengthens our links with our participants,” said Phillips. Alan Schwartz, President of TNS’ Financial Services Division, said: “Liquidity plays a crucial role in the industry today and we are delighted to be helping Chi-East take advantage of the buoyant Asian market.”
