LONDON / New York, 1 August 2013 - AlgoSpan, the specialist market infrastructure provider, is pleased to announce that as of
1 August 2013, customers of AlgoSpan will be able to connect to TOM MTF over “AlgoNet”.
Dr Rami Habib, co-founder and director of AlgoSpan quotes “We are delighted to connect The Order Machine to the AlgoSpan Low Latency infrastructure. Now AlgoSpan clients can trade on TOM from any one of our existing Exchange Datacentres over “AlgoNet”. In a fragmented and competitive market, we are increasingly seeing trading firms and fund managers looking at alternative venues for liquidity and price improvement. TOM is gathering a lot of interest and we are very happy to be able to offer TOM as an alternative venue to our clients”.
Willem Meijer, CEO of TOM, “TOM has now realised a significant market share of more than 25% in Dutch equity & index options and aims for a market share of 30% - 40% by year end. We are therefore very pleased that more and more trading firms are connecting to our market via connectivity specialists such as AlgoSpan."
Notes to editors
About The Order Machine (TOM)
TOM is a trading venue in The Netherlands offering equity and options trading and aiming at optimal competition between markets. To be able to guarantee best execution of client orders, TOM developed a search engine (‘TOM Smart Execution’) which compares prices, faster than a blink of an eye, between markets. The order is executed at the trading venue showing the best available price at that moment. TOM has established a substantial market position in equity and options trading. The shareholders of TOM are: ABN AMRO Bank, BinckBank, IMC, Nasdaq OMX and Optiver.
AlgoSpan provides end-to-end trading infrastructure and real-time market data services to financial services firms operating low latency / high frequency trading strategies – proven to bring direct improvements to bottom-line trading performance. AlgoSpan’s trading infrastructure (branded AlgoNet) underpins all customer solutions, including delivery of its multicast normalised and raw exchange data (branded AlgoData).
binckbank, tom, algospan, abn amro bank, rami habib, willem meijer, imc, search engine, trading infrastructure, real-time market data services, london, new york, netherlands, financial markets, financial economics, finance, financial system, low latency, rbs holdings n.v., ceo, binckbank n.v., tom organizacja odzysku sprzetu elektrycznego i elektronicznego spolka akcyjna
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