Tbricks connects to Chi-X Europe
Jonas Hansbo / Tbricks AB
21 Aug 2008 7:05AM ETTbricks provides clients with full access to the first live, order-driven, Pan-European Multilateral Trading Facility
Stockholm, Sweden, August 20th, 2008 — Tbricks, the provider of next generation automated trading systems, today announced that it has added Chi-X Europe to its list of certified trading venues.
The Tbricks solution has been devised for automated proprietary trading and targets prop trading firms, trading users at investment banks and high-tech hedge funds. They can now leverage Tbricks connectivity to ensure minimal latency to the Chi-X Europe trading venue.
Jonas Hansbo, CEO of Tbricks, says: “We see a huge market interest in Chi-X Europe—particularly from the growing number of proprietary traders who depend on the lowest latency performance. That's why we've ensured that our customers can connect to Chi-X Europe and provide integration to the Tbricks Genesis strategy engines with a latency of less than a millisecond.”
“Through our streamlined business model, institutional investors are able to trade a wide range of European equities and achieve low-cost, high-speed trade execution, as well as potential price improvement. We are pleased to provide access to our market through Tbricks’ advanced automated trading solution, and welcome Tbricks to our growing list of certified vendors.” comments Hirander Misra, chief operating officer, Chi-X Europe.
Tbricks launched its premiere product – the Tbricks Genesis automated trading system – earlier this year. Tbricks is initially focusing its activities on financial institutions engaging in proprietary trading.
For further information, contact:
Urs Rutschmann, COO Tbricks, urs@tbricks.com, +41 79 461 78 11
About Tbricks
Tbricks’ mission is to provide professionals with the most user-friendly and efficient tools for executing automated trading strategies on the financial markets. Tbricks is a privately funded company. The firm has more than 25 employees and is headquartered in Stockholm, Sweden, with development facilities in St. Petersburg, Russia. The Tbricks Genesis automated trading was launched in February and is already in operational use.
For more information, please visit: www.tbricks.com
About Chi-X® Europe
Chi-X Europe Limited, a majority-owned subsidiary of Instinet Europe Limited, is an FSA-authorised securities firm operating as an MTF (Multilateral Trading Facility) for the trading of a wide range of European equities. Chi-X Europe’s low-cost, streamlined model is designed to help participants achieve ultra-low execution, clearing and settlement costs. Benchmark tests have shown the Chi-X Europe operating model to be up to 10 times faster* and significantly less expensive than Europe’s traditional equity exchanges. Chi-X Europe disseminates real-time market data to clients directly and via third-party market data vendors at no cost, and off-exchange trade reporting is available for a low monthly fee.
For more information, please visit: www.chi-x.com
* Based on Instinet Europe Limited’s exchange linkages performance measurement statistics for average DMA order messaging in June 2007. These Instinet internal figures are for round-trip latency message acknowledgement based on sending an average number of messages to the exchange system and obtaining a response back to Instinet's system over the course of a normal trading day. They are provided for illustrative purposes only and are not intended to represent an independent performance measure of latency. Market volatility and volume may affect actual performance.
