New York (June 20, 2005) - BT Radianz, the leading global provider of financial connectivity services, today announced the launch of Radianz ProximityTM, a new service that facilitates algorithmic and program trading by hosting customer trading applications adjacent to several of the leading market data and execution venues.
Housed in Northern New Jersey at one of BT Radianzâs premier hosting facilities and managed by a skilled team of engineers, Radianz Proximity facilitates mission critical trading needs with a package that provides flexible, scalable and ultra-low latency connectivity to major execution venues located in Manhattan, including the NYSE, AMEX, NASDAQ, and INET. Among firms that will most benefit from Radianz Proximity are those with proprietary black box trading systems outside the New York metropolitan area seeking a local hosting site for reduced latency; third party trading systems seeking to combine fast and reliable connectivity with connectivity to BT Radianz; and any firm lacking the IT infrastructure to compete effectively in the market.
As a part of BT Radianzâs continued efforts to support fast access to market data and trading venues worldwide, Radianz Proximity will be expanded to incorporate additional BT Radianz hosting facilities in major market centers around the globe later this year.
Rick Snape, general manager, Extranet Business Unit at BT Radianz, said: "Achieving the lowest possible latency available is a major industry issue our customers need to address in order to maintain their competitive edge. In fact, at a recent industry Direct Market Access (DMA) panel hosted by BT Radianz, nearly half of all attendees indicated they are planning to host trading applications closer to execution venues in order to reduce latency. With Radianz Proximity, our customers will be able to access market data with single digit millisecond latency from most sources. Radianz Proximity is a major milestone for BT Radianz and complements our growing position as a leading provider of connectivity to exchanges and ECNs."
BT Radianz will unveil further details about Radianz Proximity at the upcoming SIA Technology conference (booth #1405). On Monday, June 20, BT Radianz will host its second annual pre-SIA industry roundtable and cocktail reception at the Intrepid Sea, Air and Space Museum. This yearâs discussion will feature a distinguished panel of market participants discussing the competitive implications of Regulation NMS.