Transaction Network Services Reaches Agreement with MIXIT

Thursday 3 March 2005 17:01 CET | News

Transaction Network Services (TNS), has signed an agreement with custom financial solutions provider, MIXIT, Inc. MIXIT will transport trading information for its order management system (OMS), called Real Trader System, over TNS network, using Financial Information eXchange (FIX/FIXML) protocol.

In addition, TNS will also provide connectivity and disaster recovery hosting facilities for MIXIT. Financial terms of the deal were not disclosed. TNS Secure Trading Extranet, with more than 950 endpoints, is one of the most widely used networks among institutional traders. As the network provider, TNS will offer MIXIT the institutional strength, reliability and security critical to electronic trading. MIXIT is a rapidly growing financial solutions provider founded by a team of executives with broad experience in designing and developing electronic trading applications. Its customers, who include both buy and sell-side traders, will now have access to TNS network, one of the most efficient, and reliable trading networks available. The deal will also benefit the existing customers already trading over the TNS network since MIXIT will have the ability to provide its OMS to existing TNS customers. External changes in market trading, along with TNS own internal assessment, have led to the conclusion that traders, particularly buy-side traders, are increasingly demanding multiple venues for electronic trading. MIXITs availability over the TNS network, and its ability to develop customized applications, is a value-added service now available to TNS customers. TNS Financial Service Division (FSD) provides a mission critical network that offers rapid connectivity and secure transmission of both voice and data for the institutional financial services industry. In addition to FIX, TNS supports a variety of IP protocols and has the ability to build connectivity in as little as three days. FSD is one of four business divisions at TNS including the Point-of-Service (POS) Division, International Services Division (ISD) and the Telecommunications Services Division (TSD).

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce