Fri, Jul 29, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

AlgoSpan launches The Order Machine (TOM) Connectivity

Tuesday, August 06, 2013
Opalesque Industry Update - AlgoSpan has added TOM MTF to its low latency exchange access infrastructure - available at all AlgoNet Exchange Datacentres. 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).

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."

AlgoSpan

Press Release

BM

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. Europe - European hedge funds shrink and shutter as turmoil hurts returns, Investors go bargain-hunting for U.K. property after Brexit vote, Brexit: Guidance for fund directors - what to know and what to ask[more]

    European hedge funds shrink and shutter as turmoil hurts returns From Bloomberg.com: Europe’s hedge-fund industry contracted for a sixth straight quarter as the U.K.’s decision to leave the European Union and concerns that China’s growth is slowing caused losses and forced some money man

  4. Platinum Partners starts liquidation of hedge funds following municipal union kickback scandal[more]

    Komfie Manalo, Opalesque Asia: Platinum Partners, the hedge fund in the middle of a New York City municipal union kickback investigation, is reported to be liquidating two of its funds, the New

  5. SWFs - Abu Dhabi wealth fund says long-term investment gains fell[more]

    From Bloomberg.com: The Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds, said its long-term gains dropped in 2015. The fund’s 20-year annual rate of return slowed to 6.5 percent at the end of 2015, from 7.4 percent a year earlier, it said in its annual review. Over