Fixnetix, the market data telecommunications company and leading European provider of low latency market data, today announced it has struck a global distribution deal with EuroMTS, the pan-European electronic trading platform for government and quasi-government Eurobenchmark bonds. Fixnetix will deliver EuroMTS fixed income data direct to financial firms over iX-Direct, its market leading data on the wire delivery service.
The massive growth in automated trading is dramatically changing the face of many of the world financial markets. As a result of this agreement, EuroMTS is leading the way in attracting liquidity by facilitating users of bond data that wish to automate their trading strategies. Fixnetix’ ultra low latency EuroMTS feed will enable financial firms to stream real time bond data, at unparalleled high speed, direct into their automated trading systems, propelling complex, winning trading strategies.
Users will receive benchmark fixed income securities data with no loss of data and at guaranteed performance levels from 15 government and quasi-government issuers including Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, The Netherlands, Portugal, Spain, Depfa, the European Investment Bank (EIB), Freddie Mac and Kreditanstalt für Wiederaufbau (KFW).
“EuroMTS is committed to enhancing the liquidity, transparency and efficiency of the European bond markets and we see fixed income quickly following the automated trading path of the equities market which has well over a quarter of trading driven by algorithmic trading applications,” says Rafah Hanna, Head of Market Data, EuroMTS. “We have signed a distribution agreement with Fixnetix following a surge in demand from users for high speed direct access to our valuable bond data.”
“EuroMTS is a leading bond market in Europe and many of our customers have been asking us to provide connectivity for some time,” commented Paul Ellis, COO, Fixnetix. “A leading European financial institution is currently trialling the feed with a view to going live by the end of the summer.”
TowerGroup recently cited that traders utilising advanced automated trading strategies in asset classes such as equities and futures and options reported significantly higher returns compared to those traders without.
Commenting on this, Hugh Hughes, CEO, Fixnetix says, “It is natural that the emerging automated trading market for bonds will quickly follow suit in this area, and demand direct access to increase performance or capture greater liquidity. In today’s markets it’s not just that milliseconds count but that any delayed or dropped data is an opportunity missed.”
He continues, “This deal with EuroMTS marks the first time that organisations will have direct access to both government bond and futures data for activities such as basis trading, via point to point connectivity rather than an aggregated feed from a traditional data vendor.
“It really demonstrates the forward thinking approach EuroMTS employs to provide users with the information they need, in a format they prefer, and to enable them to gain a competitive advantage.”
Fixnetix iX-Direct data service shaves hundreds of milliseconds off data vendor transmission times by delivering the optimal end-to-end solution over its dedicated high capacity Ethernet network. With access to over 55,000 global points of presence (POP’s), iX-Direct provides financial firms with access to the data needed to power latency sensitive automated trading systems