The pan-European equities exchange which was set up by former Chi-X professionals, aims to reduce latency and increase the speed of market data delivery.
Commenting on the agreement, Aquis Exchange CEO, Alasdair Haynes, said in the official press briefing, “We believe in providing our members with as many connectivity options as possible, and being able to offer them AlgoNet’s low latency infrastructure is particularly useful for those members for whom speed of execution is very important. We are very pleased to be working with AlgoSpan.”
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Aquis Exchange was created in 2012, as a competitor in the monopolized MTF market. The main objective of the exchange is to break into the single venue factor, as Chi-X holds nearly 80% of the MTF trading volume. MTF’s were first established in 2007, when the inter-Europe MiFID regulations were implemented.
AlgoSpan provides a range of solutions that reduce latency, and it also acts as a network carrier providing low latency connectivity solutions. AlgoSpan creates real-time competitive advantages, reducing execution times to all major trading venues, and market data feeds across Europe and the United States.
Robert Bicket, CEO of AlgoSpan, said in a statement, “With a focus on distance-related network latency, AlgoNet applies our ‘shortest path’ philosophy to target delays between trading venues and the customer’s trading systems. We deliver unrivalled latency, delivering a bespoke trading infrastructure solution to meet specific needs.”
Aquis Exchange and the Warsaw Stock Exchange formed an alliance last month. Aquis will extend its coverage to the growing central and eastern European region through this partnership. WSE purchased a 30% stake in the exchange.