UK, 2 February 2006 - Transaction Network Services' (TNS) financial markets division is celebrating a successful year after being named the first choice provider of primary connectivity services to buy-side institutions around the world.
The 2005 Global FIX Survey, commissioned by the FIX Protocol Organisation and produced by the Tower Group, is an annual review of the level of adoption and growth potential of the Financial Information eXchange (FIX) protocol, used to conduct trade transactions between financial institutions.
With more than 1,000 financial community end-points representing over 450 institutions, TNS' Secure Trading Extranet was recognised as the most popular choice for primary connectivity by buy-side institutions. The survey results also revealed the strength of TNS' market-leading position in the emerging Asia-Pacific market, with more than 60 per cent of buy-side firms using its network.
Among sell-side firms, TNS was named as one of the top two providers of primary connectivity services to European firms.
TNS' extensive coverage and expansion into new markets, such as Poland, Korea and Bermuda, has been a major component of the company's success and the survey showed almost 80 per cent of sell-side firms operating on a global basis used the TNS network.
Alex Walker, TNS' VP financial markets (international), said: "We are delighted with the results of the survey. As a company we have dedicated a lot of resources to strengthening our network by expanding around the globe and now have 96 points-of-presence worldwide that enable us to provide network services to customers in 25 countries.
"Deal highlights included a contract announced in June with the Warsaw Stock Exchange, which has allowed traders, especially remote exchange members, to connect to the exchange quickly and easily.
"And our partnership agreement with Peresys, announced in August, has opened the South African market, widening business opportunities and giving buy-side firms and broker companies the opportunity to connect with their trading partners in Europe, Asia and North America."
Alex said TNS had also secured notable deals with Delta Lloyd Securities in Belgium and the Netherlands, Raiffeisen Central Bank in Austria and with Australia's leading corporate bank, Westpac, as well as Macquarie, Australia's leading investment bank.
"We are now entering our tenth year of operation and aim to build on our achievements by establishing connections to additional buy and sell-side institutions, market data and software vendors, exchanges and alternative trading venues around the world.
"Financial institutions are also increasingly looking for wide area network services and virtual private networks, and we are ideally placed to capitalise on this market opportunity.
"We are committed to developing the Secure Trading Extranet in 2006, expanding into new countries by providing and leveraging existing benefits such as ultra low latency."
The company is also supporting financial institutions in the move towards straight-through-processing by building on its IP network to provide a broader range of applications, including market data distribution and trader voice services.