Low Latency News

Mark Casey, President of CFN Services, will be discussing the ability to mitigate risk from your low latency connectivity strategy utilizing a solution that alleviates dependency on single source providers and provides an integrated hosting and connectivity strategy.  Mark brings his experience from his over year 20year history  in telecommunication networks having worked at such companies at AT&T, MCI and CSX Fiber Networks. Mark Casey was the managing director of CSX Fiber Networks and spearheaded the spin off of CSX Fiber Network  to form what is now CFN Services.  CFN Services also acquired the proprietary asset FiberSource® which is a knowledge-based platform delivering access to over 550 carrier networks globally including more than 100 submarine systems; providing direct visibility into all available dark and lit fiber options, collocation facilities, and metro fiber rings for optimal deployment to any global financial center worldwide. This experience and tool set provides Mark the ability to have a deep understanding and knowledge required for an Global Connectivity Exchange Solutions.

Event Name: Switch and Data Presents: Financial Market Structure: Panel Event

Event Date: 11/19/2009 – 11/19/2009

Event Location: Helmsley Hotel, 212 East 42nd Street, NY, NY 10017

Panelist:

Host:
John Panzica, Vice President, Financial Services Practice, Switch and Data

Moderator
Kevin McPartland, Senior Analyst, TABB Group

Panelists
Nigel Faulkner, Managing Director, CTO Equities Trading, Goldman Sachs
George Hessler, Executive Vice President, Lime Brokerage
William Warner Director, Sales Engineering, Reliance Globalcom
Mark Casey, President, CFN Services, Incorporated
Josh Schubkegel, Exective Director, Client Facing Technology, UBS

Event Description: Financial Market Structure: Architectural and Infrastructure Challenges in the New Trading World Many new material changes have firms overhauling their trading infrastructure. How does your overall strategy stack up against the next guy? Join us for a panel discussion about the latest trends and challenges that have firms re-designing for 2010.

Event Website: http://www.switchanddata.com/Financial/Fall-Event

Optimizing the Power of your Network

Electronic Trading Firms are expecting a lot more from their network providers when it comes to low latency. It is a well-known fact, that faster is better when it comes to many things in the world. In the Electronic Trading industry being first in the queue is not just better, it can mean millions of dollars uplift. When millions are at stake, every aspect of the equation needs to be evaluated. CFN Services is now providing Electronic Traders a new aspect to their low latency goal. In the race to Alpha, there is a new variable in the mix.  Learn More

Ensure you have all the facts before you make a choice between Dark and Lit Fiber.

CFN Services discusses the electronic trading space in reference to low latency networking. CFN Services is the leader in the low latency network space. CFN Services has changed the low latency market by introducing: Performance Level SLA, Latency Improvement Plans, Custom Fiber Network Solutions and FiberSource Advisor Professional Services. http://www.tmcnet.com/tmc/videos/default.aspx?vid=1243

The Securities and Exchange Commission may crack down on a controversial practice that has caught on at various U.S. stock market centers, including Nasdaq, Bats Exchange and Direct Edge, that gives some traders privileged access to key market information.

In a letter fired off Friday, Sen. Charles Schumer (D-N.Y.) asked that the SEC ban so-called flash order types, which route stock pricing information for a brief period of time away from the displayed market centers, where all investors can see current orders and prices, and shows it to a limited group of member traders who can then decide whether to fill an order before it is routed out to another market.

The issue has been one of increasing controversy on Wall Street. Flash quotes fly in the face of four-year old rules that were supposed to level the playing field for all investors and make pricing information more accessible. Yet until now the SEC has allowed the three market centers to proceed.

Regulation National Market System required that orders be filled at the best price at any given time regardless of where that price was located. So if Nasdaq did not display the best price for a given stock as the order came in but Bats did, Nasdaq would have to route the order to Bats.

The flash quote programs hold up that process by displaying orders to members for as much as 500 milliseconds–an eternity in electronic trading–before routing out. Some say that gives traders with access to the flash quotes an advantage in that they can fill an order for a lower cost than it may be once it gets routed back out to another market.

Given the explosion in market volumes in the last year, and the fractionalization of the markets caused by Regulation NMS, the major stock trading venues have an incentive to try to fill orders in-house without routing out to rival centers. Direct Edge, an electronic communications network backed by Goldman Sachs ( GS – news – people ), Citadel and Knight Trading, was the first to offer such an order type to its members and recently has used it to great success in siphoning market volume away from NYSE, Bats and Nasdaq.

From Wall Street and Technology:

What 7.99ms how is that possible?? By utilizing optimal spans from available carriers CFN Services is able to create the lowest latency solution from 350 Cermak to 1400 Federal. Not only does this low latency exist, it is guaranteed. Limited Availability so inquire immediately. www.cfnservices.com/electronic_trading.asp

Herndon, VA (PRWeb) June 25, 2009, 2009 No longer can a trader meet their low latency requirements by just collocating in the same facility as the exchanges. The exchanges are spread out now, and so is the market data essential to successful execution of trading strategies. Traders need to find the optimal combination of space and network configuration that is central to the market data feeds and the exchanges they are trading on. That is why CFN Services is extending FiberSource Advisor® to include a Financial Services specific practice. Working with CFN Services FiberSource Advisor® to help meet low latency requirements allows Trading Firms the ability to focus resources on the trading environment, platform, messaging, algorithms and other essential key areas.  FiberSource Advisor® provides the trading firm a roadmap to optimize their network; helping plan and configure the optimal collocation sites, lowest latency networking solutions, and peace of mind achieved with full disclosure of all options available.
CFN Services is a leading ultra low latency and custom fiber optic network integrator in the financial industry; offering specific Ultra Low Latency solutions for the trading areas in a growing number of financial centers globally including Toronto, Chicago, New York/New Jersey Metro, Washington, DC, London, and Frankfurt.  CFN Services sets themselves apart from other transport vendors by offering: carrier neutrality, FiberSource Advisor® professional services, fully managed services, and the ability to design custom fiber networks.
CFN Services specializes in designing, implementing and managing high performance, low latency fiber networks. CFN is a custom fiber network provider, not simply a supplier of circuits. This is a unique advantage to a trading firm, because CFN and their FiberSource Advisor® professional services, can assist in the overall plan and development of the financial network to ensure optimization based on each firm’s unique priorities for market data delivery, trade execution, clearing data, and internal IT operations. CFN Service’s FiberSource Advisor® offering provides sophisticated financial trading firms with multiple network configuration options that fully leverage their existing network investments while providing a growth path and simultaneously lowering latency.
As a spin off of CSX Corporation, CFN Services carries on a 20-year legacy in fiber network deployment and management. CFN Services’ proprietary FiberSource® knowledge-based platform delivers access to over 500 carrier networks globally including more than 100 submarine systems; providing direct visibility into all available dark and lit fiber options, collocation facilities, and metro fiber rings for optimal deployment to any global financial center worldwide. Through FiberSource Advisor® CFN Services’ combines its vast telecom knowledge base with extensive experience in lit and dark fiber network design and implementation to provide trading firms with an edge on all aspects of MAN and WAN network deployment. CFN’s engineers articulate and provide recommendations on optimal transport architectures across technologies including WDM, SONET, Ethernet, IP, and MPLS.  FiberSource Advisor® will help traders lower latency on their existing routes, while optimizing the overall transport network inclusive of future growth plans.
As David Conrad, VP of Sales at CFN Services has observed, “ Partnering with CFN Services and utilizing FiberSource Advisor® provides trading firms the confidence and assurance that they are getting the best network solutions to meet their unique needs. With a view to all available fiber, including that of Utilities, Carriers and Dark Fiber providers; we enable our clients to rapidly sift through a typically daunting array of network options and providers to get to the optimal solution based on their specific requirements. Working with CFN as an integrator ensures carrier neutrality and eliminates the typical network operator’s bias for their own, often sub-optimal, end-to-end solutions.”
For more information about CFN Services and FiberSource Advisor® www.cfnservices.com

About CFN Services
CFN Services is a managed telecom infrastructure services company providing network services for the Enterprise, Public Sector and Carrier Markets. Specializing in network planning, deployment, and managed services, including local access transport, low latency networking, and mobile backhaul optimization, CFN Services leverages the company’s flagship FiberSource® network planning and optimization platform. CFN Services has provided network planning and deployment services to some of the leading wireless and wireline network operators including Verizon, AT&T, Level 3 and Sprint.  For more information please see http://www.cfnservices.com.
Contact: Judy May  – 703-788-6633; Judy.May@cfnservices.com

LONDON & KANSAS CITY, Mo.–(BUSINESS WIRE)–BATS Europe, an innovative and technology-leading European Multilateral Trading Facility (MTF), plans to continue inverted pricing for the NYSE Euronext indices — CAC 40, AEX and BEL20 — and select exchange traded funds (ETFs) through July, and will also reduce the liquidity removal fee for those securities to 0.25 bps as of the 1^st of July.

In addition, following the successful launch of three pilot ETFs, BATS Europe is further expanding its stock universe by adding 20 actively traded ETFs. All ETF instruments will be included in the inverted pricing schedule for July.

In June, BATS Europe has set one-day market share records in the CAC 40 (7.55%), AEX (5.37%) and BEL20 (4.60%) as well as in major indices in London (6.40% in the FTSE 100) and Germany (5.65% in the DAX).

“We thank our participants for their tremendous response to our inverted pricing in June and are pleased to extend the special into July whilst offering further incentive for participants to trade their CAC 40, AEX, BEL20 and ETF order flow on our efficient and reliable trading platform,” said Mark Hemsley, CEO of BATS Europe.

BATS Europe recently recorded one-day notional value and overall market share highs in June of €1.24 billion traded with a 4.02% share of the European market.

BATS Exchange, BATS Europe’s sister company in the U.S. and the world’s third-largest securities exchange operator in terms of notional value traded, ran similar inverted pricing schedules in January 2007 and September 2007 and gained significant market share on both occasions, growth which continued after BATS Exchange returned to its normal pricing plan.

For more information, participants can contact the BATS Europe Trade Desk (+44-207-012-8901, TradeDeskEurope@batstrading.com) or their account manager.

About BATS

BATS Global Markets (BATS) is an innovative global financial markets technology company headquartered in the Kansas City, Mo., area with additional offices in New York and London. The BATS platform was launched in January 2006 and, operating as BATS Exchange, Inc. is one of the fastest growing, top tier equity markets in the United States. BATS serves the European market through its London based, FSA-authorised subsidiary, BATS Europe, which operates a Multilateral Trading Facility for European securities. The BATS platform is internally developed by a dedicated core team of market and technology professionals, catering to the needs of the broker-dealer and trading community. BATS … Making Markets Better.

June 23-25, 2009 – Hilton New York, New York City
This conference is the premier financial services technology event. The Conference addresses the rapidly-changing technology universe and how it can be better utilized to drive productivity, comply with regulatory requirements, and adapt to converging markets, products and investors. Three general sessions, 10 workshops, luncheon speaker and the Exhibit Hall have all been selected to provide information that is essential to managing technology in today’s challenging economic environment. Don’t Miss Out on the opportunity! Register Today at www.sifma.org/tmc2009