Transaction Network Services (NYSE:TNS) has been appointed as the first ever extranet provider to support the Budapest Stock Exchange (BSE) with client connectivity services, following its recent connection to TNS’ Secure Trading Extranet.
TNS will provide low latency, cost effective and resilient connectivity to both new and existing BSE clients. The deal also provides the BSE with opportunities to connect quickly and easily to other members of TNS’ global community - a capability that will support the growth aspirations of the Hungarian exchange.
Before its connection to the TNS Secure Trading Extranet, the BSE used managed leased lines to connect to remote traders around the world - a complicated, expensive and time consuming process.
Ferenc Pittner, Deputy CEO at the Budapest Stock Exchange, said: “Our main goal at the Budapest Stock Exchange is to become the financial centre and primary trading venue of Hungarian securities. We pride ourselves on being a client-oriented operation, committed to continuously improving services for our clients.
“Through our connection to TNS’ global Secure Trading Extranet, we are now able to offer the most flexible and cost efficient connectivity to our new and existing clients - a vital factor for the continued success of both the Exchange and our clients.”
As part of its continuing growth strategy, the BSE is looking to expand into the Polish market. They have already set up a link to their first member in Poland and by reducing the cost to clients through the connection to TNS’ Secure Trading Extranet, it is hoped that the BSE will attract more Polish liquidity in the future.
John Owens, Vice President of Exchanges and ECNs, for TNS’ Financial Services Division, said: “It is particularly important for developing exchanges, such as the BSE, to be able to offer clients fast, reliable and cost efficient connectivity.
“As a result of their connection to the TNS Secure Trading Extranet, the BSE will be a more attractive proposition to new remote members and data vendors, looking for a resilient connection and access to the global TNS community of interest.”
TNS’ Secure Trading Extranet connects over 1,500 financial community end-points, representing buy-side and sell-side institutions, market data and software vendors, exchanges and alternative trading venues. It boasts over 120 points of presence and provides services to clients in over 28 countries across America, Europe and the Asia Pacific region, with its reach extending to many more countries.
For further information about TNS log onto www.tnsfinancial.com
About Transaction Network Services
Transaction Network Services (TNS) is an international data communications company that enables payments, money and voices to move around the world.
TNS’ mission is to enable the world to transact. It does this through a broad range of networking, communications and value added services, which it provides to many of the world’s leading retailers, banks/processors, telecommunications companies and financial markets.
Since its inception in 1990, TNS has designed and implemented multiple data networks, each designed specifically for the transport of transaction-oriented data. TNS' networks support a variety of widely accepted communications protocols and are designed to be scalable and accessible by multiple methods. Today, TNS has 32 offices across 28 countries with the ability to provide services in other countries.
For further information about TNS, visit www.tnsi.com.
Statements and information contained in our press releases and newsletters that are not descriptions of historical fact may contain forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond our control, which could cause actual results to differ materially from historical results or performance and from any opinions or statements expressed with respect to future periods. www.tnsi.com
Contacts:
Paul Rogers / Kelly Gough
Ptarmigan Bell Pottinger
Tel: +44
(0)113 237 2821
paulr@ptarmiganpr.co.uk
kelly@ptarmiganpr.co.uk
or
Clare
Cockroft
TNS
Tel: +44 (0)114 292 6416
ccockroft@tnsi.com
