TNS Purchases NetXpress07.30.2019
Transaction Network Services (TNS) today announced the acquisition of Chicago-based trading technology provider NetXpress, in a strategic move that augments its financial services portfolio with ultra-low latency exchange connectivity at 11 key global locations across North America, Europe, and Asia.
Founded in 2016 by industry experts Scott Feagans and Moshe Siegel, NetXpress provides colocation, data center services, exchange and WAN connectivity globally. The NetXpress low-latency architecture employs a unique ULL, Layer1 distribution technology to achieve the lowest latency profile available via a service provider.
“2019 is proving to be an exciting year for our Financial Services business,” said TNS’ Chief Executive Officer, Mike Keegan. “Since acquiring R2G in January, we have expanded our data center reach, deployed a new dark fiber infrastructure and are establishing TNS as a vendor of record for market data offerings. The acquisition of NetXpress is another step in our plan to be the financial technology partner of choice for all industry players.”
Feagans and Siegel will remain with the business and join TNS’ Financial Services executive team. Feagans will oversee technology and business development, and Siegal will be responsible for operations and delivery. The NetXpress team will move into TNS’ Chicago office.
“When we started our business, we had a phased plan to achieve global growth. The successful implementation of phase one has seen NetXpress secure extensive coverage of futures, treasuries and cash markets,” said Feagans. “We are excited to begin phase two and expand our current market data services and colocation offerings to include the major North American and European equities and options markets.”
Siegel added, “With TNS, we achieve instant access to new, global markets allowing us to scale our footprint almost overnight. It also enables rapid expansion into the growing Asia Pacific region.”
“The combination of R2G and NetXpress creates a dynamic value proposition for TNS as a single-source solution that meets the demanding needs of financial market participants,” said Keegan. “This division, led by Managing Director, Stefano Durdic, is expected to be a source of significant growth for the company. I look forward to working with Scott and Moshe to ensure the smooth integration of our businesses and to welcoming their team and customers into the TNS family.”
Optimized for electronic trading, TNS’ robust secure network is relied on by the global financial markets for mission-critical connectivity to multiple diverse trading partners. Many of the world’s most prominent and influential buy– and sell-side institutions, market data and software vendors, exchanges and alternative trading venues have selected TNS’ network. Resilient connectivity is assured by there being no single point of failure across the TNS core network and by connected firms choosing from a variety of physical connections.
TNS’ multi-asset class connectivity platform supports market data, FIX connectivity and all trading protocols. TNS’ services are supported by 24x7x365 monitoring and helpdesk support. TNS’ team have been actively involved in the FIX Trading Community for many years and regularly participate in industry events and serve on working group committees. To find out more visit www.tnsfinancial.com.
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