This is the Tagline, edited under "Misc Content"
Jan 10, 2008
Launched to help institutional investors achieve ultra-low latency execution, Chi-X Europe is the first order-driven pan-European Alternative Trading System. The company will take advantage of Equinix's premium datacentre services and distinctive Financial eXchange approach to ensure the optimum performance and ultra-low latency response times for its solution.
With its Financial eXchange solution, Equinix was the first company to launch proximity services for an exchange in Europe. The service facilitates an electronic model for a new generation of financial hubs, such as traditional exchanges, alternative venues such as Chi-X Europe, other liquidity pools, market data vendors, trading platforms and clearing and settlement providers. Chi-X Europe will join more than 40 other European customers that have already relocated their systems within Equinix's network of Financial eXchange hubs to take advantage of the company's proven proximity capabilities.
According to Chi-X Europe's Director, Hirander Misra: “Equinix's datacentre services and proximity solutions will enable our clients to further reduce their already ultra-low response times whilst continuing to provide the resilience and redundancy that a high availability execution venue such as Chi-X Europe requires. Chi-X Europe is a pan-European equities Multilateral Trading Facility and we believe that working with Equinix will continue to broaden our access to those Continental European clients seeking to connect.”
“With our Equinix Financial eXchange approach we're successfully helping firms to achieve ultra-low latency performance, take advantage of direct access cross-connects in our next generation financial hubs, and benefit from Equinix's proven high quality datacentre performance and business continuity capabilities,” added Petrina Steele, VP Business Development - Europe, for Equinix. “Chi-X Europe is clearly set to play a key role in the evolving European equities market, and we are delighted that they have joined the rapidly-growing Equinix financial community.”
Equinix Financial eXchange enables the development of neutral interactive financial communities, offering a highly resilient and convenient platform for banks, financial trading companies and financial exchanges to interconnect with each other and with multiple network service providers in order to execute financial transactions with a minimum of latency. Launched in 2006, the community now extends to more than 40 members including Yipes, Nico Trading, Merrill Lynch, Fortis and Citi Bank.
About Chi-X Europe
Chi-X Europe Limited, an indirect subsidiary of Instinet Incorporated, is an FSA-authorised securities firm operating as an MTF (Multi-Lateral Trading Facility) for the trading of a wide range of European equities.
Chi-X Europe's low-cost, streamlined model is designed to help institutional investors achieve ultra-low execution, clearing and settlement costs. Both internal and external benchmark tests showed 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 market data to clients directly and via third-party market data vendors at no cost, and trade reporting is available for a low monthly fee. For more information, please visit www.chi-x.com.
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, the challenges of acquiring, operating and constructing IBX centers and developing, deploying and delivering Equinix services; unanticipated costs or difficulties relating to the integration of IXEurope into Equinix; a failure to receive significant revenue from customers in recently built out data centers; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; the results of any litigation relating to past stock option grants and practices; and other risks described from time to time in Equinix's filings with the Securities and Exchange Commission. In particular, see Equinix's recent quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
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