Contributed To 25 Percent Growth Rate For TNS' Financial Services Division
In Q2 2005
London - August 31, 2005 - Transaction Network Services, a leading network
and data communications provider for transaction-oriented applications, and
Track Data Corporation, parent company of Track ECN, one of the few
remaining independent electronic communications networks (ECNs) available to
institutional and independent traders, announced today the successful
development of a partnership between the two companies.
"Financial institutions utilizing TNS's Secure Trading Extranet to conduct
trades through the Track ECN are getting a double benefit," said Alan
Grujic, managing director at Infinium Capital Group. "The Secure Trading
Extranet provides the most reliable communications and constantly evolving
technology around the trading process, while Track ECN offers some of the
best pricing options in the market. Both of these factors affect the bottom
line when it comes to the business of trading."
As one of the few remaining independent ECNs, Track ECN allows customers to
reach all markets and does not tie its pricing to minimum monthly trading
volume requirements, as many of the larger ECN providers typically do. This
pricing policy allows Track to offer clients of all sizes some of the
highest rebates and lowest take-out fees in the market. Customers
connecting to Track ECN through the TNS Secure Trading Extranet are up and
running in about three days, versus the typical required implementation time
of six to eight weeks with direct, point-to-point connections.
"We have been working with Track Data for some time, and TNS is really
seeing an increase in client demand for the connection to their ECN," said
Alan R. Schwartz, US senior vice president and general manager of TNS'
Financial Services Division. "Working with ECNs like Track has added to the
growth in the number of customer end points maintained by TNS, both physical
and logical. TNS is achieving its goal to deliver faster transactions to