Sat, Oct 21, 2017
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. Regulatory - David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge, Carried interest tax: How much does it matter?, Odey sees 'terrifying' mix in MiFID, tapering, asset values, Hedge funds come together to share cost of MiFID and research, SEC turns up the heat on U.S. investment advisers, India's Sebi asks hedge funds to report investments in commodity derivatives[more]

    David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge From CNBC.com: David Stockman is warning about the Trump administration's tax overhaul plan, Federal Reserve policy, saying they could play into a severe stock market sell-off. Stockman, the R

  2. North America - Puerto Rico rejects loan offers, accusing hedge funds of trying to profit off hurricanes[more]

    From TheIintercept.com: Puerto Rico has rejected a bondholder group's offer to issue the territory additional debt as a response to the devastation of Hurricane Maria. Officials with Puerto Rico's Fiscal Agency and Financial Advisory Authority said the offer was "not viable" and would harm the islan

  3. Investing - WPP targeted by short-selling American hedge fund, Sun co-founder sells secretive hedge fund on big chip trade[more]

    WPP targeted by short-selling American hedge fund From Cityam.com: An American hedge fund has mounted a bet against WPP, the world's largest advertising group, with a trade worth almost £90m. Lone Pine Capital has built a short position worth 0.51 per cent of the FTSE 100 company,

  4. Hedge funds up as industry adjusts to rising rates[more]

    Komfie Manalo, Opalesque Asia: Hedge funds have reshuffled their portfolio after nearly four weeks of rising rates as the Lyxor Hedge Fund Index was up +0.2% from 19 September to 26 (+1.1% YTD), fuelled by strong results of global macro funds, Lyxor Ass

  5. Manager Profile - How the world's hedge fund king used 'idea meritocracy' to become a billionaire[more]

    From Forbes.com: In 1982, Ray Dalio made what he calls the biggest mistake of his life. He made a bet that there would be an economic collapse stemming from a debt crisis. And he was wrong. He lost money. He lost his client's money. He had to let people go from his firm and borrow money from his dad